"I am one of those who do not believe the national debt is a national blessing...it is calculated to raise around the administration a moneyed aristocracy dangerous to the liberties of the country."
—Andrew Jackson, letter, April 26, 1824
Monday, January 20, 2014
Morning charts 1/20/14 SPX /ES
That light at the end of the tunnel? Uh, yeah, uh, not good. Not what you want it ti be. Best get out of the way cause that's the reality train barreling down, not some sign that the end is near.
SPX Daily Short - Closer look at the nastiness of the daily chart (including the ominous narrowing BB)
Yes, and by my count this is the 17th neg div without major correction and a whole slew of reversal candles that have been ignored.
Notice the lower black wedge being overthrown by the red wedge - This is nuts.This by all and every right, should be the final push/ wedge. They can not take it any higher here without creating some space or simply going vertical.