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The Euro Collapses, Just As The Candlesticks Said It Would
It was written in the Bars, and we know the culprits: Double Tops and Candlesticks. Over the past 14 weeks, the Euro has declined from a high of $1.6038 on July 18 to $1.3000 as of this writing on the evening of October 21, 2008. If this continues, quite soon it might be within the realm of reason to consider a vacation trip to Europe again. There are many reasons for the falloff, some of which, at least, are related to the European banks’ difficulties and the collapse of the housing market in several European countries.
All looked well for…
22Oct2008 | William Kurtz | Comments Off | ContinuedNo Gold, No Market, No Candlesticks
Investors and traders have long been accustomed to the convenience of price charts of stocks, Indexes, and commodities. Today, in computer display if not yet generally in commercially-available printed charts, the Japanese Candlestick format of price presentation reveals much more information than old-style bar charts, especially in connection with the mass psychology which underlies price moves. Stock prices, of course, are available for display in this mode. So are Forex charts and those of the commodities, as well – including the charts of Gold.
The charts are so familiar to us by now that they give us comfort. They are a…
22Sep2008 | William Kurtz | Comments Off | ContinuedCandlesticks Predict Rise in Fannie Mae Shares; but Who Will Buy?
Fannie Mae is a “Government-Sponsored Enterprise,†but even so, it is a private corporation whose shares are widely owned, principally by financial institutions. In recent months, the value of those shares has plummeted from a high of $70.57 in August 2007 to a low of $6.68 on July 11, 2008. The final descent began on March 24 and accelerated rapidly in July as investor confidence unraveled. The progress of the fall was marked at the beginning and along the way by bearish Candlestick patterns which foretold declining prices to follow.
The patterns which have come to the fore over the past few…
13Jul2008 | William Kurtz | Comments Off | ContinuedIt’s Almost Time to Put Up the Hurricane Shutters
January 30, 2008 – Following the Federal Reserve Open Market Committee’s decision today to lower the Federal Funds interest rate by one-half of one per cent, the Dow Industrials promptly raced higher by about 200 points. The euphoria lasted about thirty minutes before the trend reversed downward. By the close of trading, the Industrials closed lower by “only†37.47 points on the day.
That word “only†is very misleading, because price action today left in its wake a long series of bearish Candlestick patterns, in a grouping of ten charts extending from the Daily chart right down through the ten-minute chart.…
31Jan2008 | William Kurtz | Comments Off | Continued
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