Wednesday, April 29, 2015

Morning Charts 04/29/2015 SPX /es

Heck, I could not phrase this any better, there is nothing more to say, so from Futures Flat On FOMC, GDP Day; Bunds Battered After Euro Loans Post First Increase In Three Years

"Today we get a two-for-one algo kneejerk special, first with the Q1 GDP release due out at 8:30 am which will confirm that for the second year in a row the US economy barely grew (or maybe contracted depending on the Obamacare contribution) in the first quarter, followed by the last pre-June FOMC statement, in which we will find out whether Janet Yellen and her entourage of central planning academics will blame the recent weakness on the weather and West Coast port strikes and proceed with their plan of hiking rates in June (or September, though unclear which year), just so they can push the economy into a full blown recession and launch QE4."
Well, there may be a bit more to say as buybacks surge assisting in masking market reality, Greece is just about cooked and Twitter may be the modern version of a tech bubble poster child. Ah, it's all good. Y'all just stay fully invested in the risk on new normal norm. What could go wrong? It's not like the dollar is in trouble, the economy is in the tank or the government is practicing martial law drills.

On to the lie -

SPX Daily - The wedge - this time it's grey cause all the red neg divs really screwed up the look of the chart.

Freedom watch -

Nothing here today. Gonna take a break from the dire side.

More to come below.

Have a good day.

GL and GB!

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