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It is nearly a certainty that the Dow Jones Industrial Average posted a top and a reversal of trend in January 2012. The top and the reversal are illuminated by two charts of the Dow in Japanese Candlestick display. The 180-minute chart of the Dow reveals a telling, although imperfect, “Shooting Star” reversal bar. Typically, [...]  The Japanese Government has a history of intervening in the currency markets by selling the Yen and buying the US Dollar, thereby helping its domestic manufacturers by lowering the price of its exported goods in terms of the Dollar. The attached Japanese Candlestick chart of the USD-JPY currency pair depicts a strong surge in the [...] The attached chart of the NYSE Composite depicts two Japanese Candlestick Trend Reversal Patterns – the Evening Star and the Morning Star. The Evening Star pattern appears at the top of a long price advance. It is characterized by a tall white candle, which indicates a strong Up day; followed by a candle which exhibits [...] Candlestick “Hanging Man” Plus Island Top Equals Price Decline The Candlestick “Hanging Man” pattern occurs at the top of a long price ascent. It is marked by a price bar which has a small “real body” at the top of the period’s price range. The pattern is considered to be bearish, but it requires a [...] 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 [...] We are operating on the assumption that the High of 9917.30 in the Dow Industrials on September 23 probably marked the top end of the Great Rally of 2009, and therefore was the top end of Primary Wave 2 Up and marked the start of Primary Wave 3 Down and a continuation of Cycle Wave [...] 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 [...] |
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