Monday, November 25, 2013

Morning Charts 11/25/13 SPX /ES

Holiday week. Low volume with POMO - Looks like the forecast for bully is bright and sunny. That does not mean that will have a week without some important BS data jockeying. Key Events And Issues In The Holiday-Shortened Week is a post at ZH you should check out. 

The numbers that effect easing or taper will be the biggest to note. For some bizarre reason they keep this taper lie alive. I guess every good must have an evil. 

Minis 4hr - Overthrowing the rising green wedge backtesting the old beige rising channel support above blue LT resistance at a double top with negative divergences all over (and that's not even one third of the bearish setup here). It's just nasty. As I've been saying, the worst technical setup I have ever seen.

But of course none of that matters. Follow the Fed.

More to come below.

I hope everyone has a great holiday week.

GL and GB!

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