Not sure, maybe for 5 (five) years I've been saying this - VIX=Busted. Nothing is real.
If it costs the Fed $200 billion per quarter to avoid a market crash, then it's probably not that long till that number works to its way to $200 billion a day the rate we're headed (and that will be deemed affordable and good for everyone).
No, it is not about the military industrial complex, and if you say it is you will be called a conspiracy nut.
Well, if you have a 33% chance of being on file with the FBI, then imagine the improvement of those odds if you're here reading this now!
As some have noted explicitly in the comments section - Green cards will be free and abundant after the election. Oh Joy! There are plenty of jobs, insurance and entitlements for all. 34 MILLION new immigrant ID's ordered! Now I see where the manufacturing boom he's spoken of is coming from (assuming the ID's are even made in America.
On to the lie -
SPX 30m - I think this chart has everything you need. Price has moved from the underthrow of megaphone support to the upper megaphone resistance (rapidly on rumors of potential additional global QE from anywhere). Price had an overthrow of all the negative divergences yesterday to get to this point while overthrowing the red rising wedge that got price to this point. Oh, price climbed right through the 38% retracement and is currently at the 61% retracement as well. Note - every trip above the 61% retracement has led to fresh new ATHs. While price is at this sensational near term reversal spot, there is one slight problem - that inverse head and shoulder pattern below the black horizontal neckline - that lone pink vertical line is the target measurement - this takes price to the 1970 area and well above the 61% retracement. Want more? That 1977 area would be a great spot for another neckline and right shoulder to form making an even larger IHnS. For the bears - a reversal here could kick off a brutal - like really brutal fall. This is a point where the charts could predict an event of sorts that turns price on a dime.
More to come below.
Have a good day.
GL and GB!