Wednesday, October 30, 2013

Morning Charts 10/30/13 SPX /ES

Let's just do some charts today. 

DOW Weekly - That small yellow channel to the right, that's seven months of choppy consolidation happening just under blue long term market resistance. Weekly negative divergences are pretty glaring.

DOW Daily - A closer look at the above. The 14,777 area is obviously critical support here.

NAS Weekly - Overcooked.

RUT Weekly - Very overcooked.

SPX Weekly - Well done. 

SPX Daily - Just nasty overbought and blowing thru upper resistance.

EUR/USD - Lower green LT support just barely hanging on as price blue wedges up into peach channel resistance at which point it should be the beginning of the end for the Euro. The target is near 80 if the HnS plays out.

10yr - Possibly my favorite chart of all. Busted and backtesting. That's not good.

SPX Daily - This is really stupid now. Overthrowing in an overthrow in and overbought market with negative divergences galore breaking upper resistance all fueled by fiat lies. This will not end well. Enjoy it while it lasts.

More to come below.

Have a good day.

GL and GB!

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