Wednesday, December 4, 2013

Morning Charts 12/04/13 SPX /ES

Not much to say this morning. Kinda quiet. Some taper talk and such, the police state is in full swing and everyone is distracted by the short holiday season complete with Amazon drones.

Daily SPX - I'm gonna recreate this chart with just the three overthrows so you can see them better. The real top was at 1474. Everything above that is way out of bounds. The final rising black wedge overthrowing the rising blue wedge overthrowing the rising pink wedge ...well, you should get my point.

SPX and CPC - Well, so much for the bears. Another sign we're in a massive sell 'em zone and that the markets are ignoring natural forces. Note that new pink over/under thingy I added at the top. 1854 Jan 08?

RUT Daily - This is completely normal in a faltering global economy. Just what you should expect to see. 

Minis 5m - Closing in on 1783 blue long term resistance backtest. This is the number I've had as my "look out" since the rollover. Watch it closely. More to come below on the action around this point. 


More to come below. 

As for the season, please keep this in mind. 
Linus Van Pelt: "And there were in the same country shepherds abiding in the field, keeping watch over their flock by night. And lo, the angel of the Lord came upon them, and the glory of the Lord shone round about them: and they were sore afraid. And the angel said unto them, 'Fear not: for behold, I bring unto you good tidings of great joy, which shall be to all people. For unto you is born this day in the City of David a Savior, which is Christ the Lord. And this shall be a sign unto you; Ye shall find the babe wrapped in swaddling clothes, lying in a manger.' And suddenly there was with the angel a multitude of the heavenly host, praising God, and saying, 'Glory to God in the highest, and on earth peace, good will toward men.'"
[Linus picks up his blanket and walks back towards Charlie Brown]
Linus Van Pelt: That's what Christmas is all about, Charlie Brown.

Merry Christmas and happy holidays.

GL and GB!

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