I STILL think this is a big deal … Utilities… an update
Posted on August 7, 2016 Leave a Comment
August 7, 2016 – are the Utilities cracking? Historically, they have NEVER gone farther than the measured moves shown from the post 6/6/2016. Stay tuned. the point we are trying to make here is that when these blue measured moves are present AND a perfect 1.618 extension is present THEN the Utes have correct either 46 or 60 percent. here’s the question – are you ready for THAT? watch the close on Friday for more weakness coming confirmation.
Bart
6/06/2016 – were rolling right up into the target zone w/ monthly bearish divergence. yes, I still think this is a big deal and begs of caution … in 26,854 days Utilities have never gone farther w/out a major correction. Questions?
going to show this chart again of the Utilities … watch closely, the upper target is pretty darn close. Since the low in the 1940’s the Utilities have never gone farther than this (or close to this – still some upper targets) w/out a major pullback.
Great British Pound – the BUY case
Posted on August 6, 2016 Leave a Comment
August 6, 2016
since the HUGE MONTHLY 31 year .78 node the pound move roughly 700 pips (note in 5 waves) and has been consolidating for a month.
take a look at the BUY PATTERN present in the GBP a little lower … they don’t get better than this. What does that mean?
well after a 31 year .786 node of support we have a Gartley BUY occurring. all it means is it MIGHT work and it MIGHT not ..
I like the fact that it’s been working/consolidating for a bout a month .. that means the moon is at play! 🙂
wow .. what an amazing vacation in the Outer Banks this past week. W/ a clear head, I open my charts this AM ..
so, the Pound found support on a 31 year .786 retracement…it “should”. But, as we know, it doesn’t have to hold – at all. But so far it has …
now, if you’ve been following my blog you’ll find that this 30 year support in the 1.35-1.38 zone should not become resistance – polarity principle.
as for me, I’m going to look for a buy pattern (nibble) – folks – this is roughly 1000 pips away so, while it doesn’t look like much on the Monthly chart – it certainly could be a sizable rally right into the “wall of china” polarity principle.
hope you had a great week ….get some.
B
Natural Gas (NATGAS) NG #F
Posted on July 31, 2016 Leave a Comment
folks, for those of you have been following me for a while you know that sometimes you eat the bar and sometimes the bar eats you. (man I love that movie … the Big Labowski)
anyway, the “bar has eaten me” on Natural Gas. I played w/ a foldback pattern that REALLY looked nice and it basically failed below the levels – BUT the PATTERN still appears to be working …perhaps?
either way, I think we have a big low in place on Natural Gas and I haven’t looked at it for a WHILE after it kicked my butt. looking at it today – I see another potential foldback potential.
man, I wish I had more data on Natural Gas prices …
here’s the “other” foldback that kicked my ass …the form and symmetry sure look nice, don’t they? If right, natgas is about to rip higher ..
here’s a look at $UNG
LONG BOND since 1981
Posted on July 31, 2016 Leave a Comment
i did this post for @seeitmarket around the TLT (long bond (20 year +) ETF: http://www.seeitmarket.com/tlt-price-target-view-treasury-bonds-stretched-15862/ and the targets around 145 still loom ….
so, here’s the long bond and the TLT charts ….not trying to “call a top” just find patterns. could they keep going higher? well of course ..but man, this is really getting quite crazy now, isn’t it?
note, on a monthly you can see 5 waves completing (30 year continuous) and that should mean a pullback but is it the 5th of the 5th? who knows …
$LIT – Lithium ETF
Posted on July 31, 2016 Leave a Comment
i expect consolidation in/around here w/ 27 being the overlapping of 3 ratios and it SHOULD be resistance.
the key here is the level of the RSI – have we broken out into a new RSI zone that defines a bull market? also, if this is the case are we finishing up 3 on the way up? if we are then this pullback needs to remain above 21.43 as 4 can’t overlap 1.
either way, I expect a pullback here or a little more higher … then it will get VERY interesting.
note the 21 level -some nice overlapping ratio’s, a measured move like the last correction – could be a nice spot to get long
didn’t know there was an ETF for Lithium.
hope this helps.
B
