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Well, just goes to show that you have to follow the price action and not get any preconceived ideas. Wave “c” of the corrective move in the USD completed and then commenced another leg downward.  We have reached a price level that has provided strong support on previous occasions so it wil...

Over drinks at a bar on a dreary, snowy night in Washington this past month, a former Senate investigator laughed as he polished off his beer. “Everything’s fucked up, and nobody goes to jail,” he said. “That’s your whole story right there. Hell, you don’t even ha...

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Seven months ago, when the horrendous August 6 NFP print set the stage for Jan Hatzius to lower his outlook for the economy (and all the other sellside lemmings to follow suit), resulting in the announcement of QE2 three weeks later at Jackson Hole by our dangerous monetary Dr. Moreau (not our d...

Last week I had labeled the move from the bottom of the USD as a 12345 impulse wave. What transpired since then was an additional wave which made it a 7 wave move necessitating me to re-label the move as a corrective wxy(xx)z pattern instead. For the time being I have labeled that pattern as corre...

Tense and terrible times inevitably summon an odd coupling of two very different and difficult human conditions; honesty, and brutality. Certain painful truths are revealed, and often, a palpable fury erupts. Being that times today are particularly tense, and on the verge of being spectacularly terr...

The US dollar last week gave us a breakout that looked promising for the equity bears but it was short lived. We can see from the chart below how it initially broke out and then capitulated. This led to the continued rallying of the US equity markets. We can see that we have had a more convincing ...

Well, it took its time but the USD finally broke through its descending trend line and the equities market did what was expected. We can see from the above chart that not only did it break through but it also successfully back tested the breakout which could suggest that the equities market is in f...

I have to admit to being somewhat surprised at the continuing slide of the USD. Just as the US equities continue to appear like they are nearing a top the USD continues to appear like it is making a bottom but the creeping trends continue. US MARKET With most EW analysts agreeing that we are approac...

A few days ago we reported that Newt Gingrich was pushing for legislation to allow states to file for bankruptcy, “allowing Them To Renege On Pension And Benefit Obligations.” As we speculated back then “obviously what this means for equity investors in assorted muni investments is...

According to Bloomberg, in the week ended January 14 S&P 500 insiders sold $163 million worth of stock in 54 separate transactions. They bought exactly $0. That’s right, in the last week, there was no insider purchasing. This is the first time in years (and possibly for ever) in which we...

In a world where taxpayer money is spent on bank balance sheets rather than food for the largely unemployed population – a tragic sign of things to come.  With food prices at their highest in history is it any wonder that the slvation army is struggling for food donations?. Why should peasant...