So far so good, we're all still here! The market tried to disappear last night, but it found it's way (well most the way) back from the flash fail as should be expected. What a surprise that was to see this morning. I told you, not till the 11th hour IF then will some sort of resolution come involving the cliff. It will happen in the dark of night and no telling what sort of shit they will pile on with it this time.
We all know that an event like the one this morning can only happen one way these days (especially after hours) since retail is DOA and the big cats run the show. They sent a signal. You need to think about GS and the banks as a mafia. The government has dues to pay so they can keep their doors open and get protection from the mob. If you don't pay, you get a warning shot or a broken leg or finger as a reminder who is in control. That's exactly what you saw last night.
The commentary went something like this after someone pissed off Blankfein last night, "Well fuck you. Fuck you you fucking bastard. Fuck me? Oh hell no. Hey Mikey, send those mother fuckers a signal. Make sure it is loud and clear. Fuck me? I don't fuckin think so you asshole. No, fuck you! Fucking bullshit."
Minis 60m - Pretty much a big deal right now for them to hold double support where the yellow channel support meets white LT support off the October '11 lows. Yes, there is still a little magic left in the markets.
So, to review, almost every day for months I have been discussing the green double HnS resistance that price reversed off if (it did not stay long above 32 did it), the white support off the October '11 lows and Big Blue of course. All three were in play since midnight last night.
Also, is anyone out there a believer in the STB points yet? While not 100% accurate, I think you should have learned to note them when I mention them. Most know I have been looking hard at the 1420 area and the potential STB point at the white yellow intersection. Hello!
Daily SPX - I remain very bearish but remain cautious of what team manipulation is capable of. A turn is coming. See yesterday's post for more details on that. You just need to be ready. Last night was just an appetizer.
Just a few more hours to go to avoid the Mayan Apocalypse. I hope we all make it! If not, its been a fun wild ride and thanks for taking it with me.
Merry Christmas and happy holidays!
GL and GB!