Sunday, October 12, 2014

Morning Charts 10/13/2014 SPX /es

Just a few headlines to start you week. 

"the Friday rout has continued into the early Sunday night trading"

"That didn't last long... NKY back under 15k as JPY collapses"

"the chief economist at China’s central bank said Saturday that he doesn’t see any reason for large-scale fiscal or monetary stimulus “in the foreseeable future”"

And you may wonder why they "closed the gates" last summer

Any questions? And who's been telling you since before June that gains would simply vaporize? 

We need a good panic selling day to really get things going. Anyone ready for a DOW -500 day? Anything is possible.

On to the lie -

SPX Weekly - New chart that's real clean and shows all you need to know about the major downside support. Everything from the vertical black line - the overthrow at the beginning of 2013 should get wiped out in a hurry.

VIX whoud take out resistance at the open if futures remain the way they are. I'd say a move to38 or 42 would about do it before major response from the Fed comes.

More to come below.

Have a good week.

GL and GB!

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