ChrisC – Page 172 – Spiral Calendar

Brexit, Pursued by a Bear

Extra credit if you caught the literary reference in today's title.

click chart to enlarge

The five tops hang from the Spiral not unlike an Alexander Calder mobile.

Mobile c.1932 Alexander Calder 1898-1976 Lent from a private collection 1992 http://www.tate.org.uk/art/work/L01686

click chart to enlarge

Subscribe to see the rest of this post.

Brexcitement

Is it over yet? We can't discount a melt-up here.

Subscribe to see the rest of this post.

A Matter of Gravity

I suppose the Brexit question is whether Britain can escape the gravitational pull of Europe. I'd rather watch than guess until this Brexit madness is done with.

click chart to enlarge

Subscribe to see the rest of this post.

Weekly Update

I'm not a believer in rallies here.

click chart to enlarge

Subscribe to see the rest of this post.

Some Reversals

Gold formed a range-bust reversal bar, but what about stocks?

click chart to enlarge

Can gold decline without a similar turn in dollar yen? I doubt it.

click chart to enlarge

Oversold but no divergence.

Subscribe to see the rest of this post.

Underway

Global stocks remain in the early stages of a multi-week decline. Video discussion inside.

Subscribe to see the rest of this post.

Expected Net Line Sell Triggered

Thursday’s post noted the intraday net line sell would likely result in a daily net line sell once the intraday target was hit. That daily net-line close below 2094 occurred today, and this net-line sell has a target of 2023. The market is deteriorating very quickly following this Spiral Calendar top. If we are only three days into a three week move, there will be significant damage.