All posts by Jeff Cooper
Was That a False Breakout?
“The fluctuation of share prices is roughly proportional to the square root of the price.” -Sir John Templeton Last Thursday’s report showed the following daily SPX bearish Rising Wedge. Typically Rising Wedges are bearish and culminate with a false breakout from Climax Run. This looks like what occurred on June 15’s spike over the tops line […]
Continue Reading -->Did We Just Make An Historic Top?
We showed the hourly SPX below in Wednesday morning’s Hit and Run Report. We wrote, “An hourly SPX shows a Rule of 4 Sell signal will be triggered on a break of the blue channel. Breakage below the blue channel opens the door to the bottom of the green channel (from March 13th). The bottom […]
Continue Reading -->‘Don’t Fight the Fed’ Is Dead?
This week QQQ cleared our long standing 358 projection from the October low. In so doing it has eclipsed an important trend channel. I connected the October low and the late December low and then paralleled a line off the low in March—the low prior to the first significant bear market rally. The question is […]
Continue Reading -->A New Bull Market? Not So Fast…
Several months ago I outlined my projection for the SPX to rally to over 4300 IF the SPX could clear a key level we’d been targeting of 4187. The sharp reversal from precisely 4187 on May 1st led me to believe the rally from October 2022 had culminated; however, the turn down of the 3 Day […]
Continue Reading -->The Turning Point Is Here
“The SPX reversed from 4299 on Monday. Often the day following a signal bar reversal sees a Pause Day. So it will be important to gauge the price action today to see whether we take out Monday’s high or take out Tuesday’s low. Of course a drop below Tuesday’s low will put the SPX in the Plus […]
Continue Reading -->Is Nvidia the New Y2K?
Now that the debt ceiling threat has been ‘resolved’, we’re out of the woods, the coast is clear. Right? Just like the exhale after the Y2K Wall of Worry in early 2000 was mounted… right? This is the 2023 version of technology’s 2000 blow off, as we noted in this space in May. This year […]
Continue Reading -->How to Use the Square of 9 for Earnings
Let’s take a look at how the Square of 9 Time/Price Calculator can help navigate the extreme volatility associated with earnings. The Square of 9 is the only trading tool that integrates time and price, allowing traders to identify where to sell into strength and buy into weakness. On Tuesday, AI exploded to 44 after gapping up […]
Continue Reading -->How to Use the Square of 9 for Profitable Day Trading
UPST has been part of the Tech Catch-Up Trade that went vertical in May. On Tuesday on the Hit And Run Private Twitter Feed we flagged 30 as resistance on UPST. 30 is 360 degrees up from the 12 low struck on May 3rd. UPST hit 29.99 in the first 30 minutes on Tuesday dropping […]
Continue Reading -->Why Wall Street Is Wrong
“God does not play dice with the universe.” -Albert Einstein At the end of 2021, Wall Street’s biggest firms divulged their outlooks for 2022. Goldman Sachs predicted the S&P 500 would hit 5100 by years end. BMO Capital predicted 5300. Wells Fargo chimed in with a forecast of 5300. Instead, stocks plunged nearly 30% within […]
Continue Reading -->The Problem With New Highs
“The Square and the Triangle form within the circle, but there is an inner circle and an inner square, as well as an outer square and an outer circle, which prove the fourth dimension in working out market movements.” -W.D. Gann Thursday saw markets push higher early in the session. The SPX respected the key […]
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