Peak Hysteria

I am pretty sure we have reached the peak hysteria moment, with Basketball and Hockey shut down, the kids all sent home from school and supermarkets looking like a battle of the survivalists (or Guy’s Grocery Games gone mad). The Corona effing virus. Welcome to the fear event that is surpassing its reality and taking on a life of its own. Last I’ve seen China … Continue reading Peak Hysteria

I made a mistake… now I can’t undo it

First I went to a gold website and saw the bullish gold articles, highlighted by one of the 2 (former) Gold Bears (both having been flipped bullish again by the subsequent rising gold price) touting gold’s parabolic upside just before 2 o’clock Charlie showed up to reverse gold and the precious metals. The article noted a massive “complex inverse head and shoulders” * in gold … Continue reading I made a mistake… now I can’t undo it

COVID-19, the Exogenous Event That Became an Economic Event

Dow futures rise as China pledges to stimulate coronavirus-hit businesses China is again taking economic action as the market awaits the Fed Minutes this afternoon. The market has been mostly trending upward but has also been attuned to developments related to coronavirus and the potential for slowing global economic growth due to disruptions to trade and travel caused by COVID-1, the infectious disease that originated … Continue reading COVID-19, the Exogenous Event That Became an Economic Event

Coronavirus Wax On/Off

Coronavirus wax on (DJIA +275), Coronavirus wax off (DJIA -204). And so it goes in sentiment-driven markets as the herds, led by the machines… thunder on. Yesterday it was all Rainbows and Unicorns and today it’s… It’s important now to have a view that is not riding the daily whipsaw, but instead sees patterns and trends but also respects history. Personally, the 1998-2002 time frame … Continue reading Coronavirus Wax On/Off

US Index Bearish Engulfing Candles, Leading to… ?

It’s as its name implies. A Bearish Engulfing candle is a red bear candle that is outside of the previous candle’s high and low and thus engulfs it.  Day traders will see these and should prepare for a negative market reaction measured in a day or two. Longer-term position holders should consider them a blip, with the trends being far more important. The headline indexes … Continue reading US Index Bearish Engulfing Candles, Leading to… ?