‘ Who’ Cares- Another Fed Week

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I'm not one to blame news events or market manipulation for all of the moves that the market makes, but this Fed decision is likely already one that is affecting the markets.  The charts are showing signs of change, so lets dig deep and see what we can find.

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SPX WKLY- DO you see weakness in recent weeks in our 'Bull market'?

SPX WKLY 12-11

Pullbacks of 10 % can be healthy in a bull market, but lets take a deeper look...

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Quick Ideas

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I just wanted to post a couple of quick thoughts before the weekend.  I will post a couple of charts from yesterdays report, because nothing has really changed there,  and a couple of new ones. 

WTIC - This chart is from yesterday.  That swing low did not hold, and I do not believe that it was a dcl that failed quickly.  I still expect a bounce, but I think that would only be a Dcl, not an ICL in my opinion.  After yesterday we are under the B.B. again. DCL soon.

WTIC 12-9 Read More

Take A Hike

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With only 4-5 trading days left until the Fed meeting next Tuesday & Wednesday, I'm not just watching what the markets do today, but also trying to discern how they could be aligned going into that Fed Mtg.  Lets start with the $USD.

USD - as of Dec 4, the weekly chart of the Dollar bounced off of one of its important supports, the 10ma. I didnt like the MACD set up, this looks like a double top, at least temporarily.

USD WKLY

But by Dec 7 it looked like a Bear Flag was forming on the daily chart.   More downside likely.

USD 12-7

That Bear Flag gave way, losing the 50sma yesterday and

USD 12-9

That 10 ma weekly support has been breached ( so far) too. Notice that this never happened in the strong bull run higher from July 2014 to March 2015.

USD 12-9 wkly Read More