Entries by Peter Brandt

Stock Market Updates

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It is with some discomfort that I am always pointing out potential tops in the U.S. stock market indexes. But, I must call them as I read them. The S&P daily chart has made ZERO upward progress in 18 months. A possible complex H&S top formation is under construction. Also note the appearance of a 7-week H&S top pattern. I am willing to short this smaller H&S pattern if given a well-defined risk point. I will give up on a bearish interpretation of the S&Ps if a new high is made – but this does not mean I would have any interest in being long in new high territory.

Bullish on the US Dollar Index

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I remain a long-term bull on the U.S. Dollar. Like every other chartist in the world, I am well aware that the DX penetrated the important line of support at 93.00 this past week. I had absolutely no desire to short the apparent breakout of this level. In fact, I believe the decline below 92.00 was a gigantic bear trap – bringing in new shorts and washing out stalled longs.

Platinum Continues to Shine

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Platinum

The dominant chart construction in Platinum is the completed 9-month H&S bottom on the weekly and daily graphs with an implied profit target of 1179. Note the near perfect Apr 25 retest of the neckline on the daily chart. The strength on Apr 28 goes a long way to confirm the H&S bottom interpretation.

Apple (AAPL) – Head and Shoulders above the rest.

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As a trader, my favorite chart configuration is the Head and Shoulders. The H&S pattern is easily recognizable (although for reasons I will not go into here, the novice chartist falsely finds the H&S form everywhere), produces far more reliable trading signals than more frequent patterns and is found at major turning points.

Apple has formed H&S patterns at many major turning points in recent years. The Factor has identified, alerted members and traded many of the following H&S patterns in real time.

Chart traders need to keep their eyes on Apple. The H&S pattern, when it occurs in Apple, is always worth a trade. Truly, Apple is head and shoulders above the rest.

Apple - $APPL H&S Head and Shoulders pattern

Cosmo Pharmaceuticals

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This stock is traded in Switzerland. This stock has generated more trading profits for me than any other stock I have ever traded. This, of course, does not mean the interpretation herein will be correct. COPN.S has been forming the "mother of all" symmetrical triangles.

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