Monday, February 24, 2014

Morning Charts 02/24/14 SPX /ES

Good morning. Ready for your daily dose of distraction courtesy of the almost ATH stock markets that no one can take their eyes and ears off of? Hot dawg! Ain't this special. You sheeple, please, come on to the trough of fortune. All are welcome. UP, up, up, rich, rich, rich, a fortune in every box. Broadway Ben has retired but Yellin it from the mountain tops has the reigns of this side show now, and she's got your back. Risk on, risk free, the Fed's backstop is in place, nothing can go wrong, so bring the system everything you've got. Let us make all your dreams come true.

Well, that's my market coverage for today. If you'd like to know their agenda for the week, you can see it here. Sadly this link does not include pre-release data or the BLS BS curve that they use to manipulate the numbers with. Those are only for the insiders and are not currently publicly available. Sadly you probably don't have a co-located server that can make algo driven, no liquidity required, penny skimming quotes that can within nanoseconds place your insider knowledge based trades. That's OK! These machines are there for your benefit, so just get long, BTATH and ride this sucker to prosperity.

In case you missed the message hidden in the above - baffled by BS is my point. As STB has preached for years, the market is the great illusion that is meant to keep you calm, keep you from becoming involved, to keep you from waking up to the reality that surrounds you. That reality is a crumbling everything that is economic and social. You need to pay close attention to the Ukraine and Syria issues. Guess what, they are distractions as well. You really need to be watching your government very closely right now. They are stealing freedom and liberty right from under your nose. I suspect a really large false flag is coming soon.

On to the lie -

I snatched this from the OWP. Since posting this over the weekend I've seen several others discussing 1860 which is a number I was throwing around late last week. 

Minis Daily - Rising pink wedge of death? Double top, watch the 60m 200ma here with pink wedge support for a critical point. Sadly for the bears a massive (like massive) inverse HnS is potentially setting up. This would lead to the overthrow bull trap from hell if it were to happen. I don't like it, but with Team Manipulation's back against the wall they may make one last push for glory to suck in those last few idiots. I'm not calling that, just noting the potential. I don't like up here, but as usual will never leave the possibility out of the equation. What I'm kinda looking at as an alternative if the double top does not work is the pink wedge to the green wedge backtest. This kinda works with the IHnS above but the wedge/backtest intersection is all the way up near 1880 in early May. Just a technical road map that one must consider. What I don't like is this seems way too obvious, but it would make for one heck of a bull trap. 1858 is red resistance and 1880 is green backtest. If things don't turn here, those are the numbers I'll be looking at.

Sorry, this chart is not the best. I'll get into more detail below.

Have a good week.

GL and GB!

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