Thursday, December 3, 2015

Morning Charts 12/03/2015 SPX /es

Well, everyone expected moar easing, but all they got was a lump of coal from Draghi. That's all there is to it. Promise the moon, hint at potential easing and the markets soar on a lie or clever misdirection. They never have to put their money where their mouth is. There is no punishment for not delivering the goods and being a Grinch. Why? Cause the potential exists for them to ease at any time they desire in the future, so everyone hangs around soaking up the hopium acting like idiots. Risk ON is the only game in town.

On to the lie - 

SPX 60m - Possible black rising channel within the larger blue rising channel that formed after the wedge breakdown to support yesterday. All protecting this 80 support area. The upper 1/3 consolidation area is in tact (floor 2064). It's hard to be on either side of the trade right now. Christmas ramp, rate hikes, potential easing, terrorist attacks, WWIII potential, way overbought markets, China SDR, fake recovery/depression, liquidity lies, HFT, the list is long and there is absolutely zilch supporting upside (in reality) but markets continue to threaten new ATH's. Go figure.

Freedom watch - 

Bassaskwards - EuroParliament Prez: Christians ‘Not Safe In Our Continent’

Sound familiar

"And his fib fooled the child. Then he patted her head, he got her a drink, and he sent her to bed. And when Cindy Lou Who was in bed with her cup, he crupt to the chimney and stuffed the tree up. Then he went up the chimney himself, the old liar, and the last thing he took was the log for their fire. On their walls, he left nothing but hooks and some wire. And the one speck of food that he left in the house was a crumb that was even too small for a mouse. Then he did the same thing to the other Whos' houses: leaving crumbs much too small for the other Whos' mouses!"

More to come below. 

Have a good day. 

GL and GB!

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