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Archive for the ‘Evening Update’ Category

Squawk Evening Update: We Were Right and Wrong

It appears that we were right to express caution on seeing only three waves down in the DJIA. We said that there was nothing that would prevent price from going straight up from Monday’s close and that is what ended up happening.  The wave structure allowed for the possibility since we had only seen three […]

Squawk Evening Update: A Dangerous Time to Short

Today saw broad weakness in equities and risk currencies.  While we have been anticipating a down day, it would have been hard to see the near vertical rise and not expect some form of pullback.  The greatest risk to being short right now is that we’re not going to see more than a pullback.
There is […]

Squawk Evening Update: Again Looking for Confirmation

Today we once again saw some of our topping patterns play out, but this has happened before so we will continue to look for confirmation.  The Dow was probably the most dramatic example, it popped through the top of trendline of the ending diagonal as is expected of that pattern and then failed, with a […]

Squawk Evening Update: News Tomorrow

Thumbnail : Squawk Evening Update: News Tomorrow

Who knows if tomorrow will be the day that markets start making news, but they will be receiving jobless claims, a third revision to second quarter GDP, and Chicago PMI data.  Perhaps something in one of those releases will be enough to get markets picking a move one way or the other.

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This […]

Squawk Evening Update: Knock Three Times on the Snow Line

After being rejected following a brief excursion above the 1932 FibGrid snow line on Monday, the DJIA made two more forays above this significant level on Tuesday and was similarly rebuffed.  The last attempt managed to make a new high and several Fibonacci levels nearby that could indicate  a turn is nearby.  We’ll cover some […]

Squawk Evening Update: Still Need Confirmation

The Euro is right in the middle of the first possible reversal target we published several times last week.  The Dow put in another new high today on waning momentum and then continued to sell off.  However, an earlier sell-off had invalidated the possible ending diagonal pattern so we’re left with an ambiguous count in […]

Squawk Evening Update: Nothing New

When there is not much to say, we’ll be brief.  While there were some violent swings in markets today, there was nothing to suggest that markets have chosen a direction.  Some might say that this is topping behavior.  And while it’s true that we often observe such behavior at both highs and lows, we see […]

Squawk Evening Update: Still Waiting…

Thumbnail : Squawk Evening Update:  Still Waiting…

First, we want to apologize again for the SNAFU this morning.  Tonight we’ll cover some of the items left out of this morning’s briefing as well as recap today’s market action before getting ready for tomorrow.  Indices were down today with the DJIA holding up best and the Russell 2000 suffering some hefty losses.  One […]

Squawk Evening Update: Still Looking for Clues

As a reminder to our many new readers, our evening updates are where we briefly review how the day played out related to our expectations and set out the interesting questions we’ll be pondering to address in our morning briefing, which is where we present the bulk of our analysis.
What we said this morning was […]

Squawk Evening Update: Time to Head Down?

Today was the reward for a consistent application of the analytical techniques we find generally reliable.  Just as not every trade can be a winner, not every forecast will come true.  So just as we say trade well and the rest will follow, we take the same attitude toward our analysis.  We focus on the […]

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