Thursday, January 8, 2015

Morning Charts 01/08/2015 SPX /es

So, the Fed admits QE (at least abroad) moves markets? Is this just another CYA move before the immanent collapse? There have been a few instances in the past year where they have warned us without warning us if you know what I mean. Of course we're not in a bubble, and there is no inflation. Oh, and we all know what moves markets in the new normal. 

The correlation to past crashes is ... worth noting. 

ZH has a good read on oil now - 

So we have until January 22nd till the next ECB QE announcement? What could they do? The market will never make it that long. They need to come up with something before then. 

Try these headlines back to back and tell me what's wrong with this picture - No, no disconnect at all, none at all. 

3 In 5 Americans Don't Have Savings To Cover Unexpected Bills

Manhattan apartment prices hit record high

On to the lie - 

I got to playing in the chartbook again. Found lots of things out of whack. 

Silver Monthly - Might be time? 

Silver Weekly - They may have taken it too far when they broke $17. I'll be looking at this one carefully from now on. 

Brent WTIC - Joined at the hip again, hit rising wedge (bear) target just under LT support. That potential $35 support is still a ways away though if that's where it ends. I suggest you see that oil post above before forming any ideas here. It will turn again prolly similar to the way it did on '09, but is it time? I'm not sure. That crash happened during the last market collapse - this market has not collapsed yet. Either way - price is now back in line with a more normal historical rising trend. 

USB LT - I love this chart. We have a LT trend broken on this chart. A predictable channel up over decades with a pattern -peak, drop to the 50ma, then set a lower peak, drift up and repeat - until now. What's different this time that caused USB to ignore the pattern they have had for decades and explode higher? Oh, and historically what has happened at this resistance diagonal? 

My CPC chart is worthless - proving this market is a total farce. 

Copper - The STB HnS playing out as noted years ago. Oh, the economy is just fine - copper always falls like this when things are roaring along. 

SPX 5m - No clue - set to fall after busting rising wedge support or do they ramp it from here? Potential IHnS here with neckline at 2030 forming RS here is another possibility. 

More to come below. 

Have a good day. 

GL and GB!

No comments:

Post a Comment

Keep it civil and respectful to others.