Tuesday, November 5, 2013

Morning Charts 11/05/13 SPX /ES

Election day around the country. The VA governor's race aside, I'm most interested in CO where secession, fracking and pot are on the ballot. I'll be very curious to see what voters have to say around the country. We should get some inclination into the mindset of the sheeple. Are the pissed off yet or not? 

TWTR - it is what it is. I suspect a FB sort of scenario, hot, cold, colder and hot again as it goes thru the phases. QE, intervention and manipulation eventually lift all tides whether revenues and profits are apparent or not - till it doesn't. 

Immigration, let's make this really simple, it's about getting more poor into the country so they can put them on welfare and buy their votes. No more, no less, that's what it's all about. And I'll ask, what sort of foundation does that build for a country? It may make for one hell of a voter base and may keep you in power, but the entitlement state will crumble one day. They better enjoy it while it lasts cause they are destroying the country in the process. 

Greece and the EU issues are about to come screaming back into the picture I think. Our MSM has turned a blind eye to all the goings on over there. I guess after covering 100 or 1,000 protests it gets a bit old. Bottom line is they are out of money and moar bail-ins are coming soon. When they hit, look out, it could have ripple effects over here. Greece is like $320 billion on the hole, could you imagine if your state had that debt?

On to the lie -

You know what happened the last time the markets decided to correct a bit? Futures An Unamiliar Shade Of Green On Chinese Taper Fears As Li Hints At Stimulus Curbs yup, China taper talk. It appears that taper talk is the only fear, the only break that can be applied to the markets right now. They're even throwing down some taper talk here in the US, like it actually could happen. We of course know it will not ever happen, thus market melt ups occur every day on the wings of perpetual stimulus.

Minis 60m - When price wonders off from that 50 or 200ma let me know, till then, they got price right where they want it. Nothing new or different from the past 11 days. 1771, 1751 and 1741 are the three key playas. Till 71 or 41 bust you can remain in your low volume and volatility slumber. I thought last week that this range would hold for a while and so far that appears to be their goal. 

Not much to say other than the wheels continue to fall off and somehow they keep putting them back on. We meed for an axle to break or something structural, so we can end this nightmare and this thing can run over the cliff. Till then it will be SOP, QE and intervention all day every day. They will continue to control the MSM. they will further their surveillance efforts. They will continue to take freedom from the sheeple, till one day we'll finally had enough. Till then, carry on, follow the Fed and do nothing more or less.

More to come below.

Have a good day.

GL and GB!

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