Thursday, November 14, 2013

Morning Charts 11/14/13 SPX /ES

I've been telling you all week to wait on Thursday and Yellen. Here we are and the DOW and SPX closed at ATH's yesterday. These people are relentless. It is and always will be all about QE. Not until the system has gorged its self to death on liquidity will it die (unless my "event" comes first which at this time, the way things are going, will be another in a long line of bad is good scenarios). If you have not figured that our by now, you have issues. 

It's beyond ridiculous at this point. Good is OK, bad is good, and worst is best; whatever guarantees that QE4eva will continue is what moves markets today, nothing more. So the Dove Queen is being installed now, this is a glorious day for the HFT, algo driven, bot controlled, CB manipulated, unregulated, liquidity infused markets. 

About all I have to say about this is that it should be your jumping off point. Yellen is little more than a sacrificial lamb being sent to slaughter. She's set up to fail in a no win situation. She's little more than another puppet placed by the powers that be to take the fall for the grand masters Greenspan and Bernanke. None of this will be their fault and of course no one will have seen the crash coming. 

You should read Market Awaits Coronation Of The QEeen where you'll find,

"Certainly, the follow up from Europe doing the same and also warning it too may engage in QE, has been lost. Which is odd considering the entire developed world is now on the verge of engaging in the most furious open monetization of virtually everything in history."
Pay close attention to that last sentence and start grabbing all the gold and silver you can (physical not paper). They are getting ready to simultaneously crush every currency on the planet while at the same time attempt to take asset prices thru the roof it appears. 

Investors need to know that their assets are losing value as they grow. The dollars fiat they are denominated in are worthless at this point. The market and your portfolio's value are illusions to keep you in the game and to distract you from reality. They can't let the markets fail now or else.

On to the lie - 

Three simple charts this morning - 

SPX Daily - The dashed black vertical lines are where the market has entered and overthrow situation where overbought became even more overbought and a much needed correction did not occur. A month ago we entered our third occurrence in a row of this phenomenon. Add to that the market has basically been in a negative divergence for the whole year (this after going into another overthrow situation of course).

SPX Weekly - Just look at the indicators, their support diagonals and the yellow boxes. We're at the end of the road here with no room to run. When those supports go so does the market. Neg divs showing the October overthrow are apparent on this chart as well. We're in fantasyland now for real.

SPX Monthly - Again, see the indicators, their support diagonals and the yellow boxes. Double negative divergences are never good. I do need to note that the neg div on RSI lasted from 1996 to 2000 before it finally let go. This chart truly is sick.

BPSPX - when bullish percent neg divs to price it is usually not a good thing. Apparently manipulated markets could care less about such things. 

Minis 60m - I don't know what to say here. Price took out blue LT upper resistance. This is a pretty bold move and statement by the control team. Resistance will be 1792 then 00. I'm afraid they have gotten the scent of the round number here which is never good for a bear. Support 74, 61 and 52. Pure insanity folks.

I'm still leaning down, but they may have to get a bit of the hopium out of their system first. They've never been this high.

More to come below.

Have a good day.

GL and GB!

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