Tuesday, December 15, 2015

Morning Charts 12/15/2015 SPX /es

Oil is getting crushed, HY is blowing up and the Fed is in their meeting. Not much else to say.

On to the lie - 

SPX 60m - Backtest of 2052 and then failure would be pretty cool. I mentioned yesterday that if the Fed stays true to form, the lower support of this falling megaphone will be broken and a severe falling wedge will form. The problem here is we're only looking at smaller patterns that are limited in price and scope. The larger pattern has yet to reveal its self except for one thing which is in the monthly chart below - ultimate black support.

SPX Monthly -Everything here screams that the long term major (prolly multi decade if not forever) top has set. So, you need to think about this for a second - logically with a clear head - If stocks are at all time highs and seriously will never have the chance to get this lofty ever again in your lifetime, then why are you not selling everything? This is basic shit, stocks 101, buy low, sell high.

Freedom watch - 

Someone's got some splainin to do -

"A group of four young computer experts who call themselves VandaSec have unearthed evidence indicating that at least three ISIS-supporting accounts can be traced back to the DWP's London offices."

Christmas - 

"I wear the chain I forged in life," replied the Ghost. "I made it link by link, and yard by yard; I girded it on of my own free will, and of my own free will I wore it.”
Charles Dickens, A Christmas Carol 

More to come below. 

Have a good day. 

GL and GB!

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