Friday, June 14, 2013

Morning Charts 06/14/13 SPX /ES

Has someone around here been all but screaming about a war sooner than later? This may be a bit before they are ready, but as I've been describing, potus needs one in a big way. After all, he's only done 18 fundraisers this year, so he needs something to do other than raise money, spend tens of millions of sequester funds traveling, play golf and defend his administration against nefarious whistle blowers and bogus claims of constitutional rape.

Well, we may not be at war now (outside of an active currency and cyber war that no one will officially admit), but Syria is just about to get out of hand. Yes folks, it is time for us to side with Al CIAda and fight with our terrorist brothers! Goooo AmeriKa! Get that puppet dictator in so you can secure that pipeline for the big oil companies! Start that war so the banks can fund both sides and make trillions. Free the military industrial complex and unleash the drones!

U.S.: Syria used chemical weapons, crossing "red line" Maybe nothing will spark till after the G8 meeting next week. We all know the nobel peace prize winner will not do anything without the UN's direction, so never mind congress' approval. They just need the legal go ahead from the NWO.

I thought the market may need to crash first. Will it or did it and we just did not see it? I know what I saw yesterday. Another improbable ramp for no reason, on bad news, protecting the bull's last line of defense with precision and making a statement in the process. Bottom line, like we've been saying for over a year now, they can not let the market fall. You just witnessed all the cabal's power in one concise shot.

I still question if they are using the ramp to distract us from something else (think transparency) and are creating room for a SHTF moment that has already happened. Japan is deep in the bowl spinning clockwise and about to go under. Greece, Spain, the EU and much more - They are out of printable bullets and have finally reached the point they need a major distraction before global bail-ins. Now Syria may not escalate right away, but it at least has apparently started. Now we know their play.

On to the lie -

I'm not going to waste anymore time on this crap this week. I wanted 95 for a second time on the minis, got it, they had me looking, but not calling, lower and then wham o! It's a crock. We know it. We're used to it. I alluded to what they could do yesterday and they did it again. They can't keep this up and one day it will fail. Till then, you have to expect nothing less than the new normal BTFD guarantee.

Daily SPX - Look closely at the candle action over the past two weeks. Although that qualified as a bullish reversal yesterday price is still capped by the 20dma, the 37 resistance area and the backtest of busted red channel support. Of course (as witnessed yesterday for the umpteenth time) technicals really don't matter anymore, but let's pretend they just might.

So now we're back to where we closed Wednesday night and the bears are back on the stand. That was quick. Anything over 1651 on the minis or above the 20dma and the bulls will have the ball again. It is quite apparent that nothing outside the networks running the markets matters. Get used to it.

I'll post more charts and news below. The commentary has really been excellent. so if you are not checking it out, you should.

Enjoy the weekend.

GL and GB!

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