Wednesday, July 9, 2014

Morning Charts 07/10/2014 SPX /es

Rock climbing this morning, and this finishes the activities for the week at Camp Shanky.

As for everything else, I hope Perry lets the muslim mofo have it. I doubt he will as I'm sure O will show up with an NSA dossier about an inch or two thick on him and his family threatening arrest or worse under NDAA. What a great country.

Bombs in Israel? Interesting. Escalation is about all I need. Think "event" folks. They may be ready now.

I suggest you see - Freedom: Summed Up In One Image Wake up folks, right under your nose - They are taking everything and it willa ll be gone before you realize it.

Faber for the gazillionth time calling for correction. Make me wonder, could I have called 40,000 tops and still be where I am today? I remain (not for long) one of the very few standing. Everything is so right now. Global tension is trending upwards at a faster pace than the RUT right now and this bubble will burst possibly taking everything with it from the markets to our freedoms.

As for the AA beat ....Think GAAP and no regulation.

Hey! I got into SC and can see my charts!

I like this one I updated yesterday - the Cycle Lines chart - Basically last year and this can be charted in a big ass rising channel. Obviously you can see upper resistance is being hit here with the upper BB and the negative divergences are hard to ignore. I'd watch that 50% diagonal for support and if that and the 20ma crack it's almost guaranteed the 50ma will crack as well looking at past moves. Also note how their tops were times really well for the past two years till this one. Why did they break the cycle here? If the lower channel support fails it should be a Katie Bar The Door situation and more than likely an event has happened.

I also like the SPX 60m chart which gives more detail to the recent rampage - The overthrow of the black rising channel led to the improbable blue rising wedge which has been overthrown - Really? This is the epitome of over exuberance and idiocy.

I still will call a top when I have the time. Technically there is not a better spot in the 5th overthrow since the start of 2013. they will not keep this up forever. I liked reading Is The Fed Going To Attempt A Controlled Collapse? If so the PPT better have a shitload of digital 1 and 0 in stock, the best marketing team money can buy and one hell of a distraction (think FF). Again, are they ready? Are all their pieces in place? I have a feeling we will find out very soon.

More to come below (later of course)

Have a good day.

GL and GB!

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