Wednesday, June 18, 2014

Morning Charts 06/18/14 SPX /es

I'm so tired of the news, or the non-news should I say. I'm tired of the failure. The failure of our government and our people to regulate said government. I'm tired of pens and executive orders. I'm tired of the NSA and DHS. I'm tired of the military industrial complex. I'm tired of the central banks. I'm tired of the manipulation and theft. I'm tired of the entitled abusing the system and living like leaches off a host. I'm tired of the two party system. I'm tired of immigration, send 'em all back. I'm tired of the complete and utter lawlessness. Shall I go on? What are you tired of? Add yours to the list below.

The whole world is coming apart right now. This is possibly one of the most destabilized times ever on the globe, and with modern weapons, that ain't good for humanity. Let's look at one simple example of our fine foreign policy to assist with the situation - the taliban is our terrorist bogeyman and we must eliminate them from the globe, but first we need to arm them so they can take out Assad, but that did not work so they turn all the weapons on Iraq on US troops destroying years of our own work there and we turn to Iran for help - Brilliant!

No matter, it's all good and the stock market in the US just rolls along like Teflon Don, nothing can touch it.

What's wrong with this picture? We all know what's wrong here at STB and fortunately many others are finally catching on. They are 4 or 5 years late to the game, but better late than never in this case. Well, hopefully they did not miss the entire game and it is not too late. If we don't make a push now to get the muslim mofo removed from office the game is over. If we don't replace 95% of the incumbents in the next election it may be game over.

I'm tired. The board is tired. The blatant and now admitted manipulation of virtually every modern market is beginning to wear on everyone (except the ignorant bulltards of course). We all know where things are headed. We all know how it will all end. We just do not know when it will all end. Hang in there friends. It will end. I wish I could paint a rosy picture, but a Hollywood American ending ain't happening this time. Spoiler alert - we lose. What we can hope for is that in the sequel we make a comeback and restore this nation to its once kick ass status, but till then we have to deal with what's in front of us, and that is not going to be pleasant.

On to the lie -

Minis 4hr - Volume less garbage right now. Yellow backtest support and green wedge resistance with the red rising wedge of death narrowing every day. Think of the red rising wedge of death as a major 6 lane road you have to ride your bike down. Well, it was 6 lanes, now its narrowed to two or three lanes and the volume of traffic is picking up. Good luck. The rising red wedge is now only 50 points top to bottom. That is all the room  they have. When there is no room for real volatility left at the top - we should have real problems. The triple rising wedge overthrow to 1954 was a technical wonder. How they could generate an encore is beyond me. I'm agitated and pissed about the whole situation right now - thus my quiet stance lately. I have to let some emotions simmer down.

Minis 15m - Remember I like down but fear up? I got both. Now, I am going into wait and see mode. I can't refute higher in this manipulated POS, but then again we are coming off the most perfect technical top I have ever witnessed. This green resistance is key. If that breaks then a double top at the RDofD would be sweet. Lord help all the bears if they want to backtest the busted pink channel support. 1925 to 1935 is key here. Watch the range.

More to come below.

Have a good day.

GL and GB!

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