Bartelloni: Watch Palladium and Nasdaq Correlation
- Posted by JC Parets
- on December 15th, 2011
These charts were sent to me by a good friend James Bartelloni. He is a U.S. Navy veteran and spent 12 years in the cockpit as a TOPGUN graduate in the F-14. Having graduated from the US Naval Academy with a BS in Mathematics, he later went on earn his Chartered Market Technician Designation. He sometimes uses a bit more of an unconventional approach to technical analysis and calls himself an ‘Intermarket Musician’.
Bart is showing us the positive correlation between the Nasdaq Composite and Palladium. The first chart shows the prices of both over the last year. The Second chart is a longer-term comparison of Apple ($AAPL) and Palladium where he points out that in 2003, the correlation really syncs.
(Click Charts to Embiggen)
Bart suggests watching Palladium. “If it goes down the techs go down. No one really leading, they are a little coincident and very correlated”. Here is the third chart he sent over, this time of Palladium alone. Based on some measured moves, he sees a potential top coming the price of Palladium. (Click Chart to Embiggen)
Thanks for the charts Bart.
Full Disclosure: Nothing on this site should ever be considered to be advice, research or an invitation to buy or sell any securities, please see my Terms & Conditions page for a full disclaimer.blog comments powered by Disqus
J.C. Parets is the Founder & President of Eagle Bay Capital, LLC. He earned the Chartered Market Technician designation (CMT) and is a member of the Market Technicians Association. More
- Money Rotates Into Late Cycle Names
- Why Energy Is Better Than Technology
- Top 10 Most Ridiculous Names For Japanese Candlesticks
- MOO is Looking Beefy These Days
- Energy Looks Intriguing On A Relative Basis
- The 10% & 20% Correction Levels Are Completely Irrelevant
- TIPS Are Greatly Appreciated
- Russia Fails At Former Support
- I love Big Bases And You Should Too
- The Trend Channel Everyone Is Watching
Archive by Year