Friday, May 23, 2014
Morning Charts 05/23/14 SPX /es
Ramp to the holiday complete! All is well, so let's discuss conspiracy this morning. Thanks to RC posting Gordon Duff, VT, 5-20-14… “Russia Opens Files on Nuclear 9/11 and Israeli Proliferation” and causing a bit of a stir last night - why not discuss something meaningful like Russia's Ukraine blowback and mission to destroy the US from the inside out. Hey, they got us right where they want us, our government is in a completely dysfunctional state (the open yet hidden transformation from a democracy to a fascist state is never easy), and the Russians have skeletons they can bear that will only embarrass the US even more than it has already done to its self (if that's even possible). Discussing this below today will at least keep us entertained while the Fed does its thing.
And we all know STB loves confirmation when conspiracy theory becomes conspiracy fact - Barclays Fined For Manipulating Price Of Gold For A Decade; Sending "Bursts" Of Sell Orders - Like I always say when charting or discussing gold - the most manipulated metal on the planet. Oh, and of course a mere slap on the wrist is all Barclays will receive.
Nothing new to say about Memorial Day this year so here is last years post if you are interested - 2013 (fun to look at the chart as well).
On to the lie -
Pretty simple stuff, ramp it till you can't anymore. Bottom line is they can not let it correct or fail or everything is lost. Markets remain very nervous for multiple reasons. One slip and POOF!
Minis 60m - Three rising wedges leading to the end, green, yellow and red.
More to come below.
Have a great holiday weekend.
GL and GB!