Wednesday, July 22, 2015

Morning Charts 07/22/2015 SPX /es

WOW! Another really positive great day for news. I'm so glad that things are looking up and that the recovery is still in full swing. With KO and the likes of INTC beating using only limited trickeration, who needs revenues or profit to get a beat these days, and AAPL's little bump in the road past us now, we got nothing but clear sailing ahead. Amen!
After all, if something bad were to happen you will be the first to be able to get out when shit really starts hitting the fan, right? Like the "gates" are still closed wide open and the crowded theatre is (not) getting larger and more crowded while the exit keeps getting smaller.

Global markets are just fine, forget Greece and any sort of banking contagion that could unleash damage in the trillions. Gold, silver, oil all getting crushed to prove to you, dear investor, that all is well and that the equity market is really the only game in town. Forget the fact that China's Record Dumping Of US Treasuries or that their stock market is epically crashing or that they have built city after city that sits empty - dude, whu r u worried abt? 

On to the lie - 

SPX Daily - MA support is going to be key around and just under the round number. What worries me the most? That backtest of the multi year channel support. A point where in the past or under any 'normal' market conditions I'd have been screaming run to the hills.

Freedom watch - 

Just more BS every day - the sooner he's gone the better - I just hope we survive what's left of his term - Obama Administration Won’t Release Full Iran Deal to Congress

More to come below. 

Have a good day. 

GL and GB!

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