Friday, March 10, 2017

Morning Charts 03/10/2017 SPX /es

Waiting on the rate decision - nothing more, nothing less. Approaching Debt ceiling which is sure to bring drama. Wouldn't it be awesome if we hit $20t debt the same day as they raise rates - ya! We can afford that, sure, no problem.

On to the lie - 

All sorts of MA's are in play right now. I thought up this morning but then it should reverse. I think it consolidates till the Fed rate decision. If 2360 gives way 2340 is the only stopping point down to 2300 or 2275. So, they don't want to let that go. Tumbles will come in big chunks as there are very few real support points off the Brexit low. 2382 prolly the max here. IF the Fed causes a stir and price falls hard next week, I will prolly be forced to call "the" top. Still looking. Still see April, via TA, as what looks to be the end of the trend. 

SPX 60m - Resistance

SPX Daily - Support

Freedom watch - 

Even in IL I still have a problem with this - if those poor folks can't arm themselves to protect them from the gangs controlled by the Mexican drug cartels - you may as well wall off that state as well. Illinois State Senator Pushes Bill Allowing Government To Confiscate Guns Without Due Process. Guns are not the problem when you have zones where the police or emergency responders will not go - that's just blatant Democratic government failure.
More to come below. 

Have a good day. 

GL and GB!

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