As I noted to my VIP Traders Club members, on the recent data dump days, the Dow swung violently by around 600 pts up and then down and then up first on the FOMC of 1 February and then again on the US CPI of
I have been laying out my case for an imminent reversal in the stock averages in recent issues. Last week’s title was an ironic Up, Up and Away?. Seems my hot air balloon has run out of propane! And once again the timing was spot
Since the mid-October lows in the indexes, stocks have rallied sharply on bullish expectations for 2023. These have been based partly on what the Fed may do to temper their rate hikes on the back of falling inflation. This new-found optimism from the depths of
Liz who? Was she just a Will -o – the – Wisp that was cancelled by the establishment blob as if she wasn’t there? So now the way is clear for the Return of Boris (for the Second Coming?) And to an almost certain economic
“Well, here’s another nice mess you’ve gotten me into!” These immortal words of Laurel and Hardy come to mind as we are gripped by the financial earthquakes caused by the new UK government’s tax-cutting and a smaller state revolution – and the extremely violent reaction
So, now we know. The Fed really means it when they say they want to crash the economy to kill inflation. But I have one little question: They have a long history of being behind the curve of moving on policy rates and thus they
The MSM can always be relied on to offer us great financial news – after the event, of course. We now learn that the S%P having declined by greater than the arbitrary 20% is now in ‘bear market territory’. While I managed to locate the
The question in last week’s blog title – The News Is Grim So Will Shares Bounce Now? – was answered in the affirmative as I suspected. While there was much talk of a looming recession in the MSM with US and UK fuel prices at
Shares fell hard last week in an orderly fashion (no panic) into Friday’s low with the Dow losing almost 2,000 pts. As I have been pointing out, the US indexes are in a very strong third waves lower that are nowhere near complete. But don’t
On of the great advantages of using the Elliott wave theory is that when an odds-on forecast goes wrong, there are precise levels which will warn you of that – and then you can take evasive action. Such an event occurred at 12 noon UK
On Friday, the Dow crashed to a new low of 30,650 and we have had now eight successive weekly losses in the Dow and is a record series of declines that has been matched only once in stock market history.
On Wednesday, the Fed bowed to the inevitable by following what the market has already decided – by raising interest rates. But with the new Fed Funds rate of 0.5%, it remains at historically low levels.