Thursday, June 28, 2012
Morning Charts 06/28/12 $SPX $ES
The waiting games continue. What will the EU come up with? No real need to comment on this as most know my thoughts on the subject. SCOTUS either promotes the USA or the USSA. EOM, EOQ and July 4th all weigh on the markets.
Daily SPX - STB's consolidation call still rules as the waiting game plays out. This time is a bit different if you have not noticed. Normally in this rigged POS market price would be nearing new highs and looking for more as the global bailout train rolls on. For some reason though, this time, caution is being observed and asset levels are struggling to hold 1300 support. Is it game over for Team Manipulation and their extend and pretend liquidity pump?
Monthly SPX - I've been pointing to the Monthly 10/20ma cross for a few weeks now. What has the Fed been able to do? Well take a close look for yourself. They are fighting off the inevitable with all their might here.
I will not be here today, so hold down the fort and keep the lurkers entertained.
GL and GB!