Thursday, March 3, 2016

Morning Charts 03/03/2016 SPX /es

MEH on the news this morning. Nothing you don't know already.

On to the lie - 

Neg divs building on the short term charts, but that daily chart below is only beginning to show signs of being overbought. The black wedge is playing out. It is either rolling over as seen in the 5 and 15m chart and is topping, or it is about to break to the 1990, round number resistance or the 100dma and overthrow the near term resistance and create a very overbought short term situation. Either way in it's current form it is working towards a top if it is not here. I can see topping scenarios that run from here all the way up to 2064.

As noted, for some reason this permabear is not feeling any serious downside here (although that can happen at a moments notice). The call for MOAR has been made and the threat of moar is lingering. For this reason the shorts have been slaughtered and the markets keep rising. Trust me, its not because of 'fundamentals' cause were back into the bad=good scenario. 

Right now I'm actually leaning towards a pullback to something like 1920 and then moar strength. Crazy, I know. That's just where I am. I think bully's got the ball again and team manipulation is running trick play after trick play legal or not right now. 1960 - 58 is key support here.

SPX 5m

SPX 15m

SPX 30m

SPX Daily

Freedom watch -

How The U.S. Government And HSBC Teamed Up To Hide The Truth From A Pennsylvania Couple

"Big banks and the U.S. government are simply 100% in bed together. Constantly scheming to prevent citizens from learning the truth."

More to come below. 

Have a good day. 

GL and GB!

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