Gonna keep it simple again this morning. No need to moan about Grandma's appearance yesterday and her overly doveish stance (do or die - however you want to phrase it). So, STB warned to wait on the testimony as I always do. Follow the Fed, I've said it at least 600 days in a row now. If you challenge their aithoritah, you will lose.
Reviewing yesterday, we entered ANOTHER (3rd major) overthrow situation back in mid-October. We're a month into the latest round of insanity, but this time we have even more (of the same) troubles and Ocare (1-800-FU) to deal with.
Daily SPX - The three black dashed vertical lines are all points where major corrections should have occurred, but instead we got it shoved down our throats. We're moar than ready for another tumble, but it looks like 100 SPX points is all they will yield. This chart is really ready to turn whether the Fed likes it or not.
Minis Daily - Upper blue diagonal, that is the market long term resistance diagonal. The greedy bastards are running it over this resistance line in an overthrow situation on top of two previous overthrows! I hope you are getting this. We're like, waaaaay out there in fantasy land right now. So far out we're lost and can't find reality, but that is fine cause that is right where the Fed wants you to be.
I remain bearish. I must. The charts demand it, so I will listen to what is says, but I must, must, respect the Fed and their lawless, unregulated, wild west, manipulated and controlled market. More near term stuff on the minis below and targets for today.
As a reminder, if you are one of the 197 million (or two thirds) of Americans now living in what's deemed a Constitution Free Zone (lawless), congratulations! Have a nice day and enjoy your tyranny. Just trying to hammer home the FACT that we've lost all control over our government here. Please wake up if you have not.
Have a good weekend. I may need a few prayers this weekend. I'll be attending the GA/AU came with the family. It will be wild, but not the best place for GA fans to wander into.
GL and GB!