Wednesday, July 30, 2014

Morning Charts 07/30/2014 SPX /es

I was a bit dire yesterday, but you need to heed those sort of posts. 

FOMC day two - is there really a need to post anything else? I think not. Get ur popcorn and prepare for the show. Hey, at least JY will show up on time for her appointments. 

On to the lie - 

Daily SPX - Since we're keeping things brief this morning, I think I can sum this situation up in one word - whatever. 

Should the bottom be falling out? Well, according to traditional theory (and possibly the close yesterday), yes, thinks should be reversing. If that rising wedge fails there is a real chance things could get interesting. I do know what happens at tops when markets have been climbing the wall of fear and sentiment suddenly changes. Of course all is on hold awaiting the next string of lies and promises from the Fed (as the world implodes around us).

More to come below. 

Have a good day. 

GL and GB!

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