Thursday, March 9, 2017

The 2017 Pit with Disqus

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Tuesday, October 11, 2016

Why charts?

My focus for 2016 has been 3 charts- oil, gold, and the S & P 500. When I look at oil, a potential leader, a zig zag rally was followed by a clear triangle (shown in circle) leading to a break down to a common fibonacci level, the .50 retracement level.


Looking at gold, a similar zig zag rally was followed by a triangle (shown in circle) leading to a break down to a common fibonacci level, the .382 retracement level.


Finally the SPX. Considering a zig zag look to the rally and a clear triangle, a break down to a fibonacci level was expected.


10/10/2016 a closer look and an elliot wave count for the triangle suggested the pattern was whole in price and time and ready to begin a retracement.


What's next for the S & P 500?  Join us in The Pit as we track it in real time.

Tuesday, March 1, 2016

The Elliot Wave entry

There is some debate of the practicality of EW for trading in real time. Can EW find an entry? Can EW find an exit?  Here are 3 recent examples of counting waves and patterns used to find an exit and entry. No indicators. No VIX. No oil. No news.

The February 11th low.

The February 24th low.

 The February 29th low.

Sunday, January 31, 2016

You can't know where you're going until you know where you've been?

We have a very fast and volatile market. Good time to check some charts and make sure we are in sync.



All these charts, and others, are available in real time in The Pit. We navigate in real time so no projections here. These charts were just part of the conversation and if you liked them you will really like what the others offer!

It's a great group. See you there.