"Anyone waking this morning will glance at US equity futures and happily note its unchanged-ness relative to weakness in Asia overnight. But behind the scenes of the last 12 hours was a total and utter farce of price discovery failure. S&P 500 e-mini futures have been halted twice (0551ET anbd 0612ET) in what one market observer exclaimed "looks like manipulation to me." So what exactly happened at 6:12am?"
And remember mr. market cheering about moar Abe? Yeah, this is why. Mark your calendars!
"the BOJ’s Oct. 30 meeting would be "good opportunity" for further easing."
On to the lie -
As you know, September is going to be a wild month.
SPX Daily - Lot's of resistance that is actually being resistance. 1991, the 20dma, 38% retracement and several diagonals are actually holding.
SPX 30m - I still want my 1820 before their possible last run at glory. Maybe, if the market does not puke up a lung here, that possible rising triangle could be in play after a bit more consolidation. For now, there is a chance that all that resistance (combined with a plethora of global negative market pressures) leading to the potential larger black falling channel being in play. Another possibility is that blue wedge could turn into a big ass bear flag.
Freedom watch -
If You Don’t Think Americans Have Lost Our Freedoms, READ THIS -
"The Land of the Fleeced and the Home of the Slave"
More to come below.
Have a good day.
GL and GB!