I have two meeting this morning that will keep me out for a while, so hold down the fort.
No minis charts till I get in.
They either save it here or they let it go. I've been on the two scenarios for a couple of weeks now. Fear up (got it) like down (getting it). They have to ramp it to get room above support (got it) or let it go (can't hold it) and change course looking for un-taper additional QE ignition - which will result from real market fear possibly caused by more than just a bust of support (think FF). The QE meme is not flying the way it was so they are going to have to do something to keep the lie going. We're at some sort of turning point here I believe.
See the comments late yesterday where I showed the price action with the STB Red Diagonal of Death. It gets real serious every time price comes in its neighborhood. With their inability to create upside that will stick and the rapidly rising RDofD - they gotta do something, and what they've done no longer works. Nervous markets not cooperating.
Daily SPX - The neg divs all over this chart are just insane.
SPX Weekly - Neg divs.
SPX Monthly - Neg divs.
SPX to BP - Neg div
More to come later.
Have you shared STB?
Have a good weekend.
GL and GB!