You know the drill, Share the love and the knowledge.
I'll post what I find and see. Lot's going down (except price) and GridEx coming on the 13-14. They may be keeping it afloat for a reason here (other than they can't let it crash or even correct at this point).
Minis at 3:30 Friday. Retraced to the 1761 support/resistance point and the 61% retracement point. Anything over this and the odds of another ATH go way up (as we've seen every time so far). I suspected they'd close it here, cause on Fridays they love to park it right on a critical point to keep everyone in the game over the weekend.
STB had been watching the 60m 50 and 200ma for a couple of weeks, this proved valuable. Well, the backtest of these failed and they busted thru even after the bear cross of the 200mas. This is bullish, but as seen above the bears are barely still in the game (as of the time of this post).
I posted a bunch of long tern charts Friday so see them if you want a larger perspective. We're all over a top. Everything is in place, it is sadly just a matter of when the Fed wants to let go. I'll update the chartbook and let post anything I find relevant.
I rather enjoyed this newt wist on an old tale. It never gets old and is so very true.Guest Post: Obama's 'Socialism' Experiment Brought Home.
Enjoy the weekend.
GL and GB!