How’s this for coincidence? Click Image for full-size. How did they get it so perfect? Right on the last trading day of January… Of course everything will change going forward but I thought it was amazing to see that monthly trendline come into play on the daily chart.
Take a look at January 20th on your daily SPX chart. At the time it felt sort of like a “capitulation day” to me. The low print that day was 1812, which put the S&P 500 down -11.3% for the year at the low – on the 12th trading day of the year. People were […]
I thought I should document this… You may have heard of a “widely-watched” market follower aka The Commodities King. His name is Dennis Gartman and when he speaks – people listen. His profile at CNBC reads: “Mr. Gartman has been directly involved in the capital markets since August of 1974, after his graduate work at […]
By now you’ve probably seen or read a few “Why This Is Not 2008” analogies. Here’s one at the Wall Street Journal The guy from Pimco had something to say about it too. While I’m not necessarily expecting a 2008 style market meltdown, I do see some bigger picture similarities. Here is the short and […]
It came to my attention today that Deutsche Bank has already lowered it’s year-end price target – just three weeks into the New Year. We expect the next 5%-plus S&P price move to be up and soon,” Bianco wrote. At the same time, the strategist said a review of Deutsche Bank’s S&P target, earnings-per-share and […]