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This does not look healthy. Apple Inc. shares closed Down $3.46 today; and in doing so, price action left behind a classic Japanese Candlestick “Bearish Engulfing” pattern. The “Real Body” of the tall black candle “bearishly engulfed” the “Real Bodies” of the eight price bars which preceded it. This pattern, or one almost exactly the [...]  Las Vegas is Welcomed at the Door of Pension Fund Management. “Make It All Back by Doubling Down.” Right. Make a photocopy of your next pension check. Then frame it, put it in a safe place, and be ready to retrieve it and hang it on the wall as a memento of days gone by. [...] Bearish Candlestick Pattern in Russell 2000 Index Foretells Decline in Prices We have been waiting a long time for a top in the Great Rally of 2009, which represents neither a “recovery” nor a resumption of the old bull market. Rather, it has been an upside correction of the bear market which began in October [...] A New Low in the Dollar Index is Good News for the U.S. Dollar The Dollar Index compares the value of the U.S. Dollar with a “basket” of foreign currencies. In overseas trading early on October 20, 2009, the Dollar Index made a new Low. Assuming that one desires the value of the U.S. Dollar [...] October 16, 2009 – Traders on the USA Exchanges pushed, shoved, grunted, and shoved some more, but it didn’t work. They wanted in the worst way to make the Dow Industrials close above 10000, all to no avail, as the Dow closed at just below 9996 today. So we’re still beneath that psychological barrier. It’s [...] How is the price of a stock or of an Index arrived at? Imagine a tug-of-war. Not your ordinary run-of-the-mill tug-of-war, but a supersized one. We’ll start with two ropes, not just one. Tie the ends of the ropes together, resulting, of course, in a knot. Set the ropes on the ground. Now take two [...] The Dow Industrials Index fell 203 points on October 1, 2009, to close at 9509.30, which (at the moment) is about 410 points above an important trendline drawn from the low of March 6, 2009 through the low of July 10, 2009. When and if that trendline is broken to the downside, we will take [...] Whistling Past the Graveyard Mr. Bernanke and his confreres in the Central Bank business have convinced themselves that they have saved the financial systems of the world from collapse. They have done no such thing. First of all, they spoke much too soon; secondly, they’re mistaken. For all of their wisdom and for all of [...] Dynamic price moves consist of five waves, three of which are in the direction of the operative underlying trend and two of which are corrections, in the opposite direction. The result is an up-down-up-down-up motion. At the end of the fifth wave, prices will always be higher than they were at the beginning of the [...] The Dow Industrials advanced today, but stopped right at the 50% retracement level of its immediately previous decline. This is a typical stopping point for retracements, together with the .382, the .618, and the .786. These Candlestick bars are bullish. The power which appears to be underlying this advance could push Dow prices to a [...] |
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