Friday, October 24, 2014

Morning Charts 10/24/2014 SPX /es

Ebola fears abound and the market does not like it.  

AMZN ouch

Continuing yesterday's fallout - Democraps scrambling like rats on a sinking ship with nowhere to go

On to the lie - 

No POMO and this chart and AMZN and Ebola = Sionara

SPX 15m - Wow what a long setup with the break and backtest of upper falling megaphone resistance and the thrashing and remanufacture of the red rising wedge for a third time all on top of that inverse head and shoulders targeting near 1980 while squeezing the shorts to death again and working in two overthrows and three gaps up. They even managed to take out the 61% retracement - which virtually guarantees a new ATH to come. BUT then went pomo and came all the news above. Friday has potential to be disasterous, and it that's the case it could start a new wave of selling that will scare the pants off most. 

More to come below. 

Have a good weekend. 

GL and GB!

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