I'm sick of these last half-hour shenanigans, but this time it was different. I actually expected this it, because the market was at it's lower range during 12/12 - 12/16 when the market formed a double bottom. This is an example of how charts can provide some value in anticipating pullbacks and throwbacks and possibly, the dreaded "WTF pattern". WTF Pattern (noun): A technical pattern that usually occurs during the last hour or last half-hour or even the last 5-mins of any trading day. It doesn't care if you're a bull or bear. It is non-biased and only causes extreme agony and stress for the overnight holder. Toward the end of the day, traders sit at their trading desks bewildered and confused as to what just happened prior to the closing bell. This creates ...

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The economic picture of the U.S. this week was terrible, and that’s an understatement. Just like charts for stocks, charts for economic indicators paint a very clear picture. Many charts have gone nearly parabolic, but that doesn’t mean the trend ends here. Looking at the big picture, it is obvious that the economy will get worse. There is no question about it. Although the stock market does rally ahead of an economic recovery, the economy is nowhere near a point of recovery. Here’s a simple review of this week’s economic indicators: Motor Vehicle Sales The consensus (m/m/ change) for motor vehicle sales was 9.2 million within a range of 8.4 to 9.6 million. The previous actual reading was 9.4 million. On Monday, the reading declined to 7.7 million. Automakers know this, so why do they keep on making cars that no one wants to drive and then go to Washington and ...