Some can't see the Orwellian nightmare on the horizon refusing to remove their head from the sand. When the next greatest thing in global growth, the country that is about to replace the US as the economic leader of the globe resorts to such to save its markets, well, you can easily put two and two together. The question is, can you internalize and physically accept that 'it can happen here'?
With China put to bed for now, don't forget that Greece is still in the air. Some sort of can kicking should be expected, but if not contagion control from the default is critical.
On to the lie-
So much for the panic for closing under the 200dma. Futures soaring celebrating intervention is somewhat astounding to me. Free markets? Does anyone want a free market anymore, or are we entering a new era where everyone is OK with playing in a rigged casino?
SPX Daily - Critical resistance will be the round number and the 20, 50 and 100 dma's ranging from 2092 to 2101. 62, 71 and 82 areas will be intermediate resistance areas.
Freedom Watch -
U.S. Wealth-Concentration: The Most-Accurate Current Estimates
"What was bad under Bush has thus become lots worse under Obama, despite all of Obama’s rhetoric against wealth-inequality."
More to come below.
Have a good day.
GL and GB!