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As the probable ending point of a three-wave “a-b-c” upward correction, July mini-Silver closed today at 1394.6, down 4.8. Since the price action over the past 16 days has clearly been a three-wave move rather than five, the conclusion necessarily follows that the major underlying trend is still Down. Now we need to keep an [...]  Today, May 6, the Dow Industrials advanced 101points, the S&P 500 15.73 points, the NASDAQ 100 zero point 04 points. What’s wrong with this picture? What’s wrong is that the high-beta indexes are slowing down, as predicted. The NASDAQs continue to be closer to a top and a rollover. The Candlestick patterns in the NASDAQ [...] General Electric is the longest-surviving member of the “Dow Industrials,” and the only one which was on the list from the beginning. GE is “special” in many ways. It is, perhaps, the “bellwether” American company. There are few trademarks that announce “USA” more loudly than “GE.” In the last inverse crescendo which followed the market [...] The major stock indexes are approaching tops and reversals. The Candlestick patterns and the formations in our Indicators tells a certain story of loss of momentum and general exhaustion. It is as if a balloon is preparing to pop, or the steam pressure safety valve is getting set to do its job. The NASDAQs, in [...] April 22, 2009 – It was totally fascinating, today, to watch a real-life battle between bulls and bears unfold in real time, right before our eyes. The trading was fast and furious, leading to a crescendo between 10:50 and 11 o’clock this morning. That ten-minute period was capped by a Candlestick bearish “Shooting Star” pattern, [...] The market was all agog a few days ago when Citigroup announced profit which surprised the Street. Now, however, “after further consideration,” it has become clear that the so-called “profits” are non-existent; rather, that they are the result of financial legerdemain. It isn’t that Citigroup, alone, does it; many of the others do, too. [...] The price of Wheat was at a low point recently. The question was, which way will it go from here? There was professional opinion abroad in the land to the effect that its prices must decrease, because the wave counts said so. The difficulty with reliance upon wave counts alone is that it pays no [...] I have a major problem with the Geithner bail-out proposal: No one seems to be looking out for the interest of the citizen taxpayer. As Professor Stiglitz pointed out so tellingly yesterday in his Op-Ed piece in the New York Times, the Geithner plan will work only if the taxpayer takes a huge shellacking. That [...] The Russell 2000 Index, together with the other major stock indexes, has enjoyed quite a spectacular run since March 10. It has come to a halt at the point at which it has marked the 78.6% retracement of its previous major decline. This is one of the several retracement levels which [...] The Candlestick Belt Hold Threw the Opponent Out Of The S&P 500 Ring Today Cast your eye at the accompanying chart, please. In the first box outlined in red we see three price bars. In Japanese Candlestick terms, the first one is a “Hammer,” which is a bullish signal. The second one is an “Inverted [...] |
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