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JPM – May 21, 2023
Posted on May 21, 2023 1 Comment
This is a long term monthly count from JPM that stretches back 50+ years. Folks, certainly doesn’t “feel” like a 5 wave move in JPM is complete but the count doesn’t break any rules so … 5 waves complete? Here’s the daily chart below – calling attention to the island reversals and the island reversals […]
Long Bond Futures – May 15, 2023
Posted on May 15, 2023 1 Comment
If your a technician, you can’t help but notice the very long (month ish) consolidation occurring in the bond market. Today’s price action appears to want and break the support that has been around since March 15th. As you can see above, we do some ‘basic’ projections and right when the neckline breaks there is […]
KRE Regional Banks ETF – May 12, 2023
Posted on May 12, 2023 Leave a Comment
Last post on KRE: https://atomic-temporary-44460632.wpcomstaging.com/2023/04/30/kre-regional-banks-etf-april-30-2023/ Supposedly … who knows what is true these days .. 1000’s of banks are underwater. OK … whatever. Here’s when we look at the CHART and we ask should we BUY or SELL or DO NOTHING. KRE sliced thru the first “potential support” and now we approach, what I think, […]
Disney (DIS) – May 11, 2023
Posted on May 11, 2023 1 Comment
Last post on DIS: https://atomic-temporary-44460632.wpcomstaging.com/2023/01/23/disney-dis-january-23-2023/ HUGE support from 62-77 … the .618 is from the all time low, we have the long term trend line from 50+ years ago and the “next” measured move correction (dashed red arrow – remember this is log scale), also take note of the two ABCD projections (orange and yellow) […]
EUR.USD – May 10, 2023
Posted on May 10, 2023 1 Comment
The EURO is smacking against some SERIOUS trendline resistance that goes back to 2000 and 1985 (synthetically). Remember, the Euro wasn’t adopted until January 1, 1999. So, the grey box below is the “synthetic” version of the EURO w/ the Deutschmark and other currencies providing a “continuation” into the time frame of Bretton Woods. Either […]
DJ Transports – May 09, 2023
Posted on May 9, 2023 1 Comment
Last post on the Transports: https://atomic-temporary-44460632.wpcomstaging.com/2023/01/18/dj-transports-january-18-2023/ The thesis on the Transports is the ATH is a “BIG TOP.” Thus far, we haven’t really broken down that hard so only TIME will tell. We like when .382 / .618 retracements are on top of each other and we have that a little lower in the high […]
JPM – May 04, 2023
Posted on May 4, 2023 2 Comments
Pay attention to this PATTERN on JPM daily. The past 3 major tops have gapped down and the last two have created island reversals. IF (the BIG IF) we gap down today and leave and “island” then this could be very troubling for the banks and, historically, has led to a pretty big down move […]
LIBOR Rate – April 30, 2023
Posted on April 30, 2023 Leave a Comment
The LIBOR rate is an important gauge … for a better explanation that I can provide please see: https://www.investopedia.com/terms/l/libor.asp Basically, it’s the rate that banks charge each other to move a “shi&t ton” of money around overnight. It’s HUGELY important .. in fact, Mr. Martin Armstrong picked up some LIBOR issues around August before COVID […]
