Tuesday, September 8, 2015

Morning Charts 09/08/2015 SPX /es

Welcome to the new normal. Market intervention has been going on for years now. It's never a big deal and no one cares when the markets go straight up. It's when they are crashing and intervention is used to support or stop a crash that all of a sudden it becomes an issue. That's ass-backwards but, whatever. See China Loses All Control, Spends 600 Billion Yuan On Plunge Protection In August, Tightens Capital Controls and then focus your attention on The Numbers Are In: China Dumps A Record $94 Billion In US Treasurys In One Month

Abe and his mafia get to control Japan for three moar years, so that's a bonus to the QE crowd as well. Then you can read Does The Fed Really Have A Choice? (Or Why The "Market" Could Soar From Here) to get some basic insight into what could become a prevailing cult move to be the final distraction before the great implosion. Put all that together, add another potential QE from the Fed and you can see why I'm not freaking out about a massive collapse yet. Blah, up, blah, corruption, blah, blah, manipulation - SSDD.

On to the lie - 

SPX Daily - I'm wanting to lean on the potential falling red wedge. I'm still wanting 1820 for the Fed's floor (that could reach to 1750). The Sunday and Monday moves in the futures bought them some cushion and could generate some positive momo. Overall, I'm still thinking a wide range of consolidation. 

Freedom watch - 

Interesting - remember the 2030 agenda and the pope's coming here this month (not to mention the last pope prophecy) - Conservative dissent is brewing inside the Vatican

More to come below. 

Have a good day. 

GL and GB!

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