Have no fear, Feddog is here, and he will come to save the day. I'd guess we'll see a backtest of 2062 support and then Fedspeak will begin again in earnest. If not, if they let 62 fail and the lower red wedge support go, then we're looking at 100 SPX points or more in a tumble that will further weaken what little confidence is left in this market. First real support is around 1988. Red wedge target is near 1960.
Uh hem .... we've discussed this at length in the past. It was always going to be a last stop measure before the big one .... QE For The People - What Could Go Wrong?
"Each eurozone citizen could be given €175 per month, for 19 months, which they could use to pay down existing debts or spend as they please. By directly boosting spending and employment, either approach would be far more effective than the ECB’s plans for conventional QE"
On to the lie -
SPX 60m - just focus on the wedge (they are). Green arrow would be most logical real target if not the dashed red wedge target line. A breakdown here would really indicate the potential for a top being in. A fall to either target then a backtest of 2062 then fail would be one possible scenario. Never forget that Feddog is here. He can come to V the day at any moment off any low.
Freedom watch -
This is nothing new to STB readers, but it's always good for a refresher course in Are You a Terrorist? You should read According To The TSA, You May Be A Terrorist If... and check the list closely listed in the post. I still think you can pick your nose and maybe eat something, but whatever else you do will get you on the monitor list.
Of course, I'm feeling really good about the google search I just did NSA+terror+words right now (Hello! STB handler! How are you today?). I suggest you read These Are Supposedly The Words That Make The NSA Think You're A Terrorist.
Let's make a sentence or two that may draw their attention shall we.
Anyone want to fry some artichokes in cornflower? No? then maybe frogleggs of halibut?
I'm a nerd cause I wore fangs to the party at the speakeasy.
Bubba the love sponge? (WTF?)
I'm gonna ask each of you to make your favorite sentence from the list in the comments below. Let's keep the handler busy today.
You can also see Uncle Sam admits monitoring you for these 377 words:
What a great country!
More to come below.
Have a good day.
GL and GB!