$CMG update w/ @seeitmarket
Posted on November 24, 2015 Leave a Comment
@seeitmarket is one of the best places to get market research. being a part of the @seeitmarket team of contributors is a blast and an honor. thanks Andy and have a great Thanksgiving Holiday.
Here’s the latest update for $CMG. Posted back in Feb that a top was coming. Hit my target area perfectly but zoomed up to one more high. More than likely would have been stopped out at entry. But note … it smacked right into the 180 degree square of nine target.
enjoy, let me know if you have any questions.
Bart
$JNK looking heavy …
Posted on November 23, 2015 Leave a Comment
note, $JNK found support and the market rallied. we had a pattern completing at 35 which held but it certainly looks heavy to say the least.
we need to watch this one, closely. if you simply look at the picture presented we have never closed below the yellow boxed area since the rally started and 06/2009.
Institutions bail out of risk assets when they are “risk adverse” … watch this closely.
sure looks heavy, hugh?
NATGAS update for a friend …
Posted on November 23, 2015 Leave a Comment
NATGAS as of 11:52 EST 11/23/2015
- note the red horizontal line – that is still just a little bit left of the gap that has not closed. it could go back down there to close it BUT price action from this level is promising.
- also, note the 2.021 level at that is a target (1.618 extension)
- RISK is a daily close below 1.949 for the larger time frame
- RISK intraday is the low that was made at the .786 at 2.058. NEED IT TO STAY ABOVE THERE.
Moving forward believe 2.231-2.56 will act as resistance moving forward. for the bullish case to work – need to bust thru there. DO NOT EXPECT IT TO HAPPEN on the FIRST ATTEMPT. IF it does THEN it’s strong.
- note the count that I am going with …
- see the 3 waves to a top at (b)? that is a classic “b” wave and action after that top sure smells like a C wave. Thus, at 2 0r B if we are bullish then this level will hold and we should continue to start up.
- two projection are near term targets only …. 2.383 and 2.589.
- see the 3 waves to a top at (b)? that is a classic “b” wave and action after that top sure smells like a C wave. Thus, at 2 0r B if we are bullish then this level will hold and we should continue to start up.
- believe the 3.0 level is still possible but need to see price action at areas of resistance noted.
one last, a big picture look at the weekly/monthly so we don’t get to focused on the soda straw of intraday.
so, we are at deeply oversold levels and a countertrend bounce is due.
hope this helps.
Bart
the EURO and .886
Posted on November 23, 2015 Leave a Comment
.886 is derived from square roots.
A quick review:
Frequency of a string is:
- proportional to the square root of it’s length
- inversely proportional to the square root of it’s tension
Here’s the frequencies of the equal octave scale of music:
the GOLDEN MEAN is 1.618
square root of 1.618 is 1.27
1/1.27 = .786
square root of .786 = .886
1/.886 = 1.128 sure looks very very close to musical note D, hugh? Coincidence, I know.
So, to the EURO ….
- daily bullish divergence
- nice 90 day (basic) cycle coming in
- .886 retrace (note how it reacted after every .886 retrace shown (blue shaded rectangles)
- personally was waiting for the 1.27 extension pattern but today’s action doesn’t look like it want’s to get down there.
Conclusion: extremely bearish big picture for the EURO but an A-B-C three wave rally should occur in the coming days.
Home Depot Rocketship …. $HD
Posted on November 22, 2015 Leave a Comment
Well, every other pattern level has been defeated so why not the one’s shown below? We have a bunch of math coming in …130-135.
stay tuned.
SQ ($square) and it’s SQUARE ROOTS …hahaha
Posted on November 21, 2015 Leave a Comment
folks …took a peak at Square’s Square Roots this afternoon.
math is on the chart. note, I like how we have to take the square root of the square root of the high at 14.78 and note the dashed green line and how prices gravitated to that the rest of the day.
interesting?
pay attention to square roots …
enjoy.
B
$BITCOIN
Posted on November 21, 2015 Leave a Comment
sequence looks like it wants one more move lower to complete 5 legs …
however, note the measured move of the last major correction – it’s completed that and a tad bit more.
make it a great weekend.
Bart
$BID Sotheby’s …
Posted on November 14, 2015 Leave a Comment
my good friend Larry sent me a chart this morning .. it’s a chart of Sotheby’s Fine Art auction house … fascinating as big moves down/up follow social mood and the market. It’s interesting to note the higher highs up into 2007 and since then the lower highs present.
it’s finishing a BUY pattern right now as of Friday … is it such a stretch to think the market will follow $BID up or down?
as always, what does the relative strength say? Well another BUY pattern is appearing a little lower and you can see that when BID outperforms – on a relative strength basis – the market overall $NYA finds the bid …
we are at some key levels for BID and it’s relative strength plot is getting close … stay tuned!
Swissy Butterfly
Posted on November 10, 2015 Leave a Comment
this is a nice one … IF it fails THEN the USD is going to take off.
highly probably pattern so expect some weakness in the USD vs CHF in/around these levels.
here’s why it’s called the “butterfly pattern”
when looking for butterfly patterns just think of it as connecting two triangles. the key to the butterfly is the AB=CD leg that makes the high or low. If you have that along w/ the extension targets mentioned then you have a butterfly sell (or buy) set up occurring.
here’s the intraday picture that will give us an idea if this pattern holds or not.
happy hunting.
Bart
Interest Rates … playing w/ the gang over @seeitmarket
Posted on November 9, 2015 1 Comment
Post on Fed Fund Futures from this weekend … interesting and important:
B
