Friday, October 3, 2014

Morning Charts 10/03/2014 SPX /es

Not much to say this morning. 

Are we really this stupid? This is really not possible is it? Are they asking for more? WTF? (Ebola clean up) Is it any wonder Americans are getting nervous? Not really. Actually, I'm surprised this public is awake enough to actually notice. 

Quickly on the propaganda front - Gotta love these from WB - I suggest you got o all the links for more verification than you will ever need. 

"Indeed, famed Watergate reporter Carl Bernstein says the CIA has already bought and paid for many successful journalists. See also this New York Times piece, this essay by the Independent, this speechby one of the premier writers on journalism, and this and this roundup."
He really must be an idiot - here and here

On to the lie - 

SPX Daily - 200dma is at 1901. Almost everything oversold but no positive divergences to be found. BP getting hammered. As usual, one of my favorite keys is a reversal in the MACD histogram - not yet. For all the hoopla and nerves - it's a tiny little move in the overall scheme of things isn't it? I guess when the black diagonal of death that has supported the market for years gets breached with the 100dma, then things deserve to get a little testy. I'm kinda starting to eyeball near 1800, but that may be getting a bit in front of things. I have a sneaking suspicion that there is a chance of an election ramp as in '08 and '10. Remain patient. Remain cautious.

More to come below. 

Have a good weekend. 

GL and GB!

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