Aug 17, 2009 - Issue #176
Seeing his ratings plunge, is Obama desparately trying to salvage something he can
claim victory for, saying he can live without the 'public option'? If so, it's not
enough. Republicans also want 'no employer mandates'.
Democrats, afraid to face their constituents, are cancelling 'town hall' meetings.
CNBC reports retail sales declining precipitously. The 'stimulous spending' plan is a
failure. There are calls for repealing the unspent remainder and returning the TARP to
Has the 'sleeping giant' finally awakened and been filled with a terrible resolve?
The Dow scorecard has deteriated as of weekend, but we can plainly see more weakness
opening this week. The market is conducting a 'stress test' of its own. We will see if
the 'significant' trendline of support (3/6 - 7/8) holds 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?
8/20 Thursday - New Moon.
During the next two weeks, the following Dow components report earnings. Keep a sharp eye
out for possible price swings leading up to 'earnings day' (Subject to revision):
8/18 HD, HPQ.
Dow score card for the week ending 8/14/09.
DJ-30: 9321.40 -48.67 -0.52%. The Real World (arithmetical) DJ-30: 41.11 -0.21 -0.51%.
UP: 12, Down: 17, N/C: 1.
Trends (weekly charts): This is the subjective part.
Rising (Generally Higher Highs/Higher Lows) 6 (-10) 20%:
AA, BAC, HPQ, JPM, UTX, +WMT.
Consolidating (Generally Lower Highs/Higher Lows) 22 (+9) 73%:
-*AXP, -*BA, -*CAT, -*CSC0, -*CVX, -*DD, DIS, -*GE, -*HD, -*IBM, INTC, JNJ, KFT, MCD,
-*MMM, MRK, MSFT, PFE, +*PG, T, -*TRV, VZ.
Declining (Generally Lower Highs/Lower Lows) 2 (+1) 7%:
+/- 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!