Tuesday, February 6, 2018

Morning Charts 01/06/2018 SPX

ES was down 60 moved to plus 50 back to even then around plus 14 now minus 8 - It's all over the place. That woulda been a great day of trading right there. Looks like 2008 all over again.

Tin foil hat time - I think this is an attack on Trump as the Teflon Don has dodged everything the deep state has thrown at him. He's turning the collusion tables. He's gonna send 'em all to jail. They are running out of bullets and the market is all they have left to attack him with and to distract from the criminal prosecution. Call it a soft False Flag. 

Gonna be curious to see what the PPT still has in the bag as far as funds or willingness to stop this slide.  

Panic selling - curious to see if everyone heads for the gates and what level send the herd running. 

On to the lie - 

DOW Weekly - Well, you can see how far it needs to fall to get back in line with normalcy. The STB Diagonal of Death that you old timers prolly remember is highlighted (yes, I still got it). I can talk about targets from 22,500 to sub 7,000, but let's not. In typical STB fashion we walk things down. MA, trendline, fib and s/r points are all things that need to be watched as potential stopping points or floors.

More to come below.

Have a good day.

GL and GB!

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