Waiting for confirmation … or Godot

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=1&mn=0&dy=0&id=p20970412253&a=266691158 It is impossible to look at this chart and see anything but bull market going to new highs.  At the same time the breakout above the April highs waits…

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Power Bars…Now that’s a power bar…

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=9&dy=0&id=p70413847164&a=214966864 We often speak -- half humorously -- of power bars, which are, of course those candy bars bicyclists eat.  In our nomenclature a power bar is a bar that…

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Skating (roller blading) on the razor’s edge…

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p55455624798&a=266398464 Don't you understand?  The market is supposed to be asleep -- or on vacation.  All the real traders are in the Hamptons, and the Europeans are not making mischief…

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Gold and silver break out. SPX turned back at resistance.

http://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=1&mn=0&dy=0&id=p20970412253&a=255869372 Gold and silver (not illustrated here) have broken out and we are placing long trades in these instruments. http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=9&dy=0&id=p70413847164&a=214966864 Meanwhile it appears that the SPX has been turned back…

Continue Reading Gold and silver break out. SPX turned back at resistance.

Potential breakaway…

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=9&dy=0&id=p70413847164&a=214966864 For 8 days the market has been eating the shorts' lunch -- in the most demoralizing way possible -- a tiny bite at a time.  Today the market is…

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