Weekend Chart Roundup – Saturday 10 Nov 2012 (15:31)
What a week. Hope you traded it well. Everyone wants to know now: Is this all over? Should I have bought AAPL at $540? Have we seen enough exhaustion selling to form a left shoulder and bounce from here? I don’t think so and in the video I run through my charts. See what you think.
One of the most frequent questions I get is “How can you tell whether the Professionals are buying or selling using Better Pro Am?” In this weekend’s video around the 11:50 mark I explain my view on how the Pro’s enter. Plus I usually refer people to this video. Hope that helps.
Link of the day …
I think the Japanese experience of deflation after their bubble burst in 1990 is the most relevant to what the US is, and will, go through. Do you remember the calls by US regulators and financial experts for the Japanese to kill their “zombie banks”? Well now the shoe is on the other foot, it’s no so easy to shut Citigroup down, is it?
Anyway, Zero Hedge posted a great piece of analysis from Nomura on the similarities between Japan and the US, with emphasis on what this means for the US Bond markets. I’m sure Hugh Hendry would approve. Go check it out here.
And thank you …
Got some just great emails this week. Thank you. Remember they’re only indicators – it’s not the holy grail. From Jeff P.
“I have to tell you these indicators are worth ten times what you are charging. I feel like I’m cheating the market. I have to thank you again for making these accessible.”
From Andrew O.
“Your system killed it today. I shorted using the 4500 tick chart today at 949 lit up blue into my elder auto envelope bands. Had a really good day.”
From Mark L.
“Barry: I wanted to say thank you. Your tutorials are a great service for anyone that’s willing to listen and learn. Your indicators ROCK! Here are my trades of the last three days … (total 20.25 points) … Thank you again and keep up your tutorials. Every trader on earth MUST use your indicators! I don’t get why they don’t.”
Good luck with your Emini trading.