Monday, December 9, 2013

Morning Charts 12/09/13 SPX /ES

Let's keep this simple again today - 

First, they are still talking taper.

Second, Today's Only Event That Matters is the double $5bn POMO.

Third, I suggest you pay attention to Futures Fail To Levitate Overnight On Repeated Central-Planning Failures Around The Globe

It looks like they are in full Merry Christmas mode right now, but they are sailing in very troubled waters. I'm still looking down and think the markets are in trouble, but that does not mean they are finished with setting tops. It's a massive struggle for both sides here. Bout the only thing you can count on is that team manipulation still has the upper hand.

Minis 30m -Closing in on the Xmas low volume window but we still got the FOMC meeting to go which should keep some fear over the markets as taper talk continues. Have no fear till you get confirmation cause the pomo days are still upon us and they don't want to spoil the Xmas season for the elite. Minis have resistance from 1809 to 1812. We'll worry about support (what little there is) if needed below.

Merry Christmas and happy holidays. 

GL and GB!

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