Friday, December 28, 2012

Morning Charts 12/28/12 SPX /ES

Not much to say this morning. Just waiting on the other shoe to fall with everyone else while everyone is on holiday/vacation.

A quick read worth looking at if you need to get the proper perspective on where we're headed next year and to reaffirm there is no solution to the economic puke fest  is Run-Time Error -2147418113: Catastrophic Failure. "The best that can even be hoped for now is some minor change in the rigging which may be heralded as “the fix to fix all fixes” but will be of little importance when considered in the light of day. I think the odds of any grand scheme that will honestly make a difference is equivalent to the value of a toe nail clipper when performing brain surgery." That about sums up everything I feel I need to say this morning.

SPX Daily - Yesterday the powers that be had another incredulous stick save. Cash barely held the 1420 level making a large spike thru all near term support. The chart wants to fall, but something is not letting it. Hmmmmm? STB will be watching the RSI14 and the 50 level there. The 25ma cracked and in the 50 level goes RSI will more than likely be on the way to bottom out and you know what that means for price.

Minis Daily - All the important points on a slightly cleaner chart than I usually present (cause it is not nearly as detailed). Big Blue is in a slightly different spot on this chart but close to the other I usually present.

Happy New Year!

GL and GB!

No comments:

Post a Comment

Keep it civil and respectful to others.