Monday, January 11, 2010
Thursday, January 7, 2010
The major cycle influence stemming from the May 2008 peak in the index is still in play--even though the duration of the rally has recently equaled the duration of the decline--the cycle from the initial rally of the March-May rally (AX) is now having a major influence on market behavior (XB).
Once this cycle of influence is broken the transports will respond with increased choatic energy.
WATCH FOR FIREWORKS SOON IN THE TRANSPORTS.
*click to view larger image*
Wednesday, January 6, 2010
Why Didn’t Canada’s Housing Market Go Bust? :: James MacGee :: Economic Commentary :: 12.02.09 :: Federal Reserve Bank of Cleveland
Tuesday, January 5, 2010
Visa has encountered resistance at this level and has formed a harmonic balance:
- Time-Price Harmonic: Triangle B (rally from the Jan 09 low to recent high = 1.272 Triangle A (decline from May 08 high)
- Cycle Harmonic: Vector XY (rally of lows to June 09 high) = Vector YZ (June 09 high-Recent high--double top?). This cycle harmonic is depicted by the light blue circle.
- Price Harmonic: The rally XZ is 1.618 the initial rally XY.
Since reaching the recent high, Visa has broken out of the sphere of influence and has moved sideways.
Visa is slightly overbougth and momentum indicators are showing 'non-confirmations' of the recent high. A short position in Visa should be accompanied with a stop just above the recent high.