Too early in the year and too much confusion right now. Normally under Fed control confusion is a good thing, but they just had to go and make a policy move when things were swimming along fine without one. With the Fed on a (supposedly) clear path, the markets are not happy with that decision (hike). Taking the lifeblood liquidity is never good in a liquidity only driven market. The GDP drop yesterday confirms the Fed's F-ing up and just playing a numbers game with imaginary numbers. "What sounds good to you Chuck?" "Ahh, whatever Janet, let's just get this meeting over with."
It's hard to quantify just how FUBAR things are right now. The complete spectrum is blowing up. Many thanks to Obummer, the banks, the lobby and the corporatocracy for destroying the globe - good job guys - well done.
On to the lie -
This is a pretty good technical post. This Is The 'New' Most Important Number For The S&P 500. I still stick with my three consolidation areas. I can see the importance of a number like 65 as the deepest sell/stops would be in that area, but for me 1990 is the number they really want to hold.
SPX Daily - right now technically this market is lost in the rabbit hole with Alice. Big volatility as expected with tops.
Freedom watch -
Important - "Refuse To Compromise", Ron Paul Implores "Purism Is Practical"
More to come below.
Have a good day.
GL and GB!