Thursday, March 27, 2014

Morning Charts 03/27/14 SPX /es

Well President Obama Prepares to Meet the People’s Pope, interesting. There are so many end of the world angles you can take with this encounter. I suspect they will communicate telepathically, have fun in a private room shapeshifting for each other and play a few private games of How to Destroy the World while they are together. I'll let you do your own homework on this one, so I suggest you research "Catholicism false religion", the "black pope", "papal prophecy" and "Obama antichrist". After that you can form your own opinions.

As for the rest of the news, it's bad.

On to the lie -

I'm really afraid I missed the top. Did Neo finally take a bullet? I've dodged so many that maybe I finally zigged when I should have zagged? I still have time to call it and be relatively close (as if in a game of hand grenades close). My fear of the eternal promise of QE4eva and a market dominated by manipulation and corruption may have bitten me in the backside. I have chosen this path, and I must continue down it. Fearful, respecting their power to literally do anything at any moment. There may be one last bull trap in them yet. We all know they can not let the market fail - until they are ready or the STB "event" happens (which may have been the Ukraine incident).

SPX Weekly - We are so close to the end. We are at the "any moment" point.

Minis 4hr - Ugly and hard to see - I know - Just see the rising pink channel, the falling blue channel, the point where blue resistance and pink support meet out to the right where I thought consolidation could occur, notice 1844 beige s/r, notice the long term thick blue market resistance diagonal intersection with the the STB red rising wedge of death support, notice the massive vast dark hole of nothing below that. The 1820 area is critical - very critical. Bully's last stand will happen near 1790.

Minis 4hr - close up - STB has been pointing out the 4hr 200ma support (white line at pink support) the last month or so - crack. Pink and green channel support - crack. HnS neckline and LT support resistance 1844 - crack. Blue channel50% diagonal (white dashed) - crack.

Minis 60m - Look at the right side of every ramp on this chart. Every instance is a two or three hour dump to take back everything they gained. Five of the last six days have has mini flash crashes. What can not be ignored here is the formation of the almost perfectly symmetric Head and Shoulders inside the rising pink channel, which is also inside a falling blue channel and pink support just failed at the HnS neckline/critical support 1844. Target 1810.

Now, be warned, the Fed sees all of this as well. How many time have we been to the edge just like this, and what has been the result almost every time. We're still 24 points above the STB red line of death that they've used as support so many times over the past two years. They have a bit of room to work with yet, so don't get too freaked out about all of this negativity in the setup.

It looks bad. It is bad. It should by all rights collapse, but then again, they are in complete control. They can not allow the market to fail. It will fail one day. This could be THE moment, or it could be just another false alarm. I suggest you be prepared either way but proceed with caution.

More to come below.

Have a good day.

GL and GB!

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