Jul 18, 2011 - Issue #276

Dark Clouds Looming?

Dark Clouds Looming?

CNBC is riveted on the looming debt ceiling debacle, as are we all.

As of now, weekly chart patterns do not look optimistic, IMO. Note the huge change in the score card from rising to consolidating. Only one component (XOM) in the rising category? Adam Hewison (MarketClub) saying 1250 (S&P500) is the breaking point. Morons on TV saying "Diversify...Keep an eye on it." What the hell does that mean? That's a plan of action? It's called 'hand holding', folks. Yeah, that'll work. Good luck with that.

Here's an idea: Sign up for Ron Ianieri's (ION OPTIONS) Option Theory and Trading course and really learn how to protect your portfolio. "Keep an eye on it." Really??? Can you believe that BS? If stupidity was a crime, those morons would be on death row!

Countdown till 2012 elections: 68 weeks.

Heads Up

W. D. Gann, a keen market observer, although not an astronomer, nevertheless, was fascinated by the apparent coincidence of important market 'pivot points' and astronomical dates. Theories exist for estimating time and price of important market turning points but astronomical occurrences are computed with mathematical certainty.

There is no logical reason why these occurrences should coincide yet, empirically, they have.

The 'Full Moon' and 'New Moon', among others, have been cited. Therefore, one might be well advised to be aware of their occurrence. Note: The first 5 business days of 2008 concluded on a 'New Moon' and we all know how that worked out. Coincidence?

7/1 Friday - New Moon. Observe market action 7/1 & 7/5.

7/15 Friday - Full Moon. Observe market action 7/15 & 7/18.

7/30 Saturday - New Moon (Blue Moon) Observe market action 7/29 & 8/1.

During the next two weeks, the following DJ-30 components report earnings. Keep a sharp eye out for possible price swings leading up to 'earnings day' (Subject to revision):

7/18 IBM.

7/19 BAC, JNJ, KO.

7/20 AXP, INTC, UTX.

7/21 T, TRV.

7/22 CAT, GE, MCD, VZ.

7/26 MMM.

7/27 BA.

7/28 DD, XOM.

7/29 CVX, MRK.

Dow score card for the week ending 7/15/11.

DJ-30: 12479.73 -177.47 -1.40%. The Real World (arithmetical) DJ-30: 54.96 -0.79 -1.42%.

UP: 2, Down: 28.

Trends (weekly charts): This is the subjective part.

Rising (Generally Higher Highs/Higher Lows) 1 (-17) 3%:


Consolidating (Generally Lower Highs/Higher Lows) 26 (+14) 87%:

-*AA, -*AXP, -*BA, -*CAT, CSCO, -*CVX, -*DD, -*DIS, GE, HD, HPQ, -*IBM, -*INTC, -*JNJ, JPM, -*KFT, -*KO, MCD, -*MMM, -*MRK, -*MSFT, PG, TRV, -*UTX, VZ, -*WMT.

Declining (Generally Lower Highs/Lower Lows) 3 (+3) 10%:

-*BAC, -*PFE, -*T.

+/- denotes change of direction.

* denotes change of category.

Comments? Ideas? Feedback? Let me have it, right between the eyes! I'd love to hear from you. Just reply to this zine and tell me what you think!

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