Wednesday, December 5, 2012

Morning Charts 12/05/12 SPX /ES

Since time is short this morning I'll be very brief -

It remains all about lies, stimulus, fiat and intervention.

The GOP may throw in the towel realizing that no matter how much they cut we're so far down the rabbit hole it would not matter anyway, so why endure the pain. They may just decide to hook up to O's party till we drop attitude. When there is only $20 left in the old account it is a bit late to start trying to fix the problems. Might as well go and get that last 5th and have a good time.

If you believe the ADP data or even think it credible, you should have your head examined. For that matter if you believe anything, you should be taken out back and given 50 lashes. Of course if you are like me the government now has reeducation centers where I can go and be taught to think properly (that is real not a joke).

12/21 is just days away now.

There is a big ass sinkhole in LA you need to know about.

Your government is totally out of control.

I can't find the Xmas spirit this year. Has anyone seen it?

Minis daily - since I am tired of showing you the daily SPX chart (cause it has not changed in a week and it is about the only chart that matters, here is the minis daily. I suggest you read yesterday's post for all the bearish details of where we are. Here you see channel down to rising wedge that is apparently breaking down. Bog blue is still in play as support this time. Indicators are mixed and 1432 is still as high as I am willing to go. I don't expect much movement from now till the end of the year. It is the first of next year that scares the hell out of me.

Have a good day.

GL and GB!

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