Wednesday, August 12, 2015
Morning Charts 08/12/2015 SPX /es
On to the lie -
DOW death cross and the SPX opening under the 200dma, how glorious! Now, when do we get the STB "event"?
SPX Daily - Death cross at this support? Monday they had a dramatic stick save at the open to protect cracking support. Then came China devaluation and the new currency war (to add to the cyber war), markets reversed back to support and now we have the inevitable. What can the PPT do? How far will they allow it to fall? Will they let it fall?
The last time we got a DOW death cross was in 2012. As you can see from this chart, that death cross did not last long (Thanks QE4eva!) and every time it has come close since a miraculous stick save has occurred. Where this time? I'd say DOW 13,750 would be the absolute must point, but 16,000 is a more likely spot.
DOW Daily -
Speaking of QE, The Fed Is Out Of Options, "QE Is All It Can Do Here" Art Cashin Predicts, so, do we at STB laugh now or later? Again, how is it that a hillbilly, redneck, wanna be technical analyst from SW Georgia can be so accurate with market predictions so far in advance? Simple, do the math and trust that the system is corrupt and completely manipulated. When remains our only question?I've reserved the final top call for this final QE run. We're closing in on that run for the hills moment.
Good simple video that echoes what STB has been preaching for years now.
Freedom watch -
Hildabeast - will she get out of this mess - you bet! She's AmeriKan royalty. I take that back, she's at the mercy of Obummer's DOJ now. Hmmm, wonder how that's gonna work out.
More to come below.
Have a good day.
GL and GB!