15 replies to this topic

[steadyquest]

The fangs might have made an IT top.  Here's the 3X fang etf divided by the -3x etf, giving a numerical 6x chart that is unitless, since the currency drops out with the division.  Apart from '2.33', all the levels are closely hit.  The price turns down immediately after hitting the '3.5' level, then sharply turns back up after retracing and hitting the '1' level.  It turns down again immediately after tagging the top level.  There's also a nice PPO divergence.  I say stick a fork in it - the fangs are done for a while..     

 

          

[RadioHead]

Ok. We rallied nicely Wednesday as I said yesterday. There is a bit of a room on the upside , but I dont know how much. XLF and KRE need to do better. Im afraid we are going to get stuck in a range again.

[slupert]

This is unusual year, as was 2022. The high inflation goblin has not been around since 1982, 4 decades ago. Which is why I am ignoring usual charting tools and relying more on what happened during previous high inflation era 1977-1982. Rinse & Repeat.

Are you paying attention to the fact that both inflation and interest rates both were double digits?

[redfoliage2]

IT bullish signal confirmed, but ST the market is in extremely over bought conditions ..........................

Edited by redfoliage2, 31 March 2023 - 03:06 PM.

[jacek]

Bunker

 

https://stockcharts....97&a=1346739787

[pdx5]

This is unusual year, as was 2022. The high inflation goblin has not been around since 1982, 4 decades ago. Which is why I am ignoring usual charting tools and relying more on what happened during previous high inflation era 1977-1982. Rinse & Repeat.

Are you paying attention to the fact that both inflation and interest rates both were double digits?

.



Well aware of the differences. The biggest difference is OUR TREASURY COULD AFFORD DOUBLE DIGIT INTERST RATES IN 1980 coz our national debt was much smaller. Now with $32 Trillion debt to pay interest on, FED is out of ammo. If they raise rates Volcker style, drastic spending cuts would be needed. If they don't raise rates high enough, inflation will linger for ever. Much more dangerous times now compared to 1977-1982.