Morning Charts 04/02/14 SPX /es

Run for cover? That's my question to you this morning. Let me clarify. This is not a top call it is a protection call. Bottom line is should you be getting your assets in your pocket and out of theirs. 

Should you be preparing for the worst scenario possible? Like - they are going to confiscate everything. Complete capital controls will be initiated "for your protection" one day. To think it can't happen here is ludicrous. Think Cyprus on steroids. 

I'm talking should you be getting out of the dollar and into physical and other barterable items with stores of food, water filters, ammo where you can self sustain? I'm just saying, if you have not done so already, the clock is ticking. You can either be at the mercy of the state one day or at least have some control over your situation. The choice is yours. 

On to the lie - 

Minis 60m - Small gray rising wedge has formed here, but I don't think it is complete. I think the lower support will need to be reset and allow for a larger formation to form. There is a chance the dump it back to 1866 today to backtest all sorts of busted resistance and then march on from there. There is a chance there is another rising channel that has formed if this 1880 level holds. If not and it want's the upper pink channel resistance, well then, the 1930 area comes into play. One thing about this market is you can never say never, especially in the face of the worst adversity.

Minis 5m - Here you can see what I think may be new yellow channel resistance and all the support at 1866 that may want to be backtested.

SPX Daily - It is just nasty. The term "defies logic" comes to mind.Negative divergences being overthrown with the very narrow BB's usually signals some sort of pullback - not ramp.
 

More to come below.


Have a good day. 

GL and GB.

Morning Charts 04/01/14 SPX /es

You do realize that yesterday we had several major announcements without them really being announced? Reading between the lines and deciphering Fed speak and the propaganda that's being delivered via any available source has become all to easy. 


What we were (inadvertently or not) told by Yellen yesterday was that everything that they've done over the past five years has been a complete and utter failure. They said without saying that they've created a monster that can not be slayed and must be fed (no pun intended) an endless amount of money to survive. We were told if this beast dies, so does everything along with it. 

We were also told the markets were rigged as well yesterday. Ho hum is the reaction to that.

Of course none of this is new to STB readers. I believe we were given the game over speech yesterday. Throw in the towel. The goose is cooked. Get used to it cause this is the way it's gonna be like it or not - and the markets cheered!

You see Denial, it's not a river in Egypt. Look at it this way - if some public school child thought Denial was the right answer, and that child had his self esteem lowered because he wanted it to be that way, then they'd change the answer on the test so he'd be right. Ho hum, again. 

Wait, we can't have cheating, steroids or drugs in sports, but they are just fine for major markets? There is no "hard way" anymore. There are no morals left. Every child gets a trophy. Every market must always go up. Every democrap libtard illegal immigrant voter gets a free phone, home, healthcare and all the friggen trophies they can pack into the back of their brand new Escalade with spinning rims. 

For goodness sake - yesterday was the deadline to sign up for an unconstitutional, illegal national healthcare system that feeds off the young which is destroying the current healthcare system that is impossible to sign up for - REALLY?

The entitled have won. We can't go back. We've gone beyond the point of no return. OMG things are sooooo fucked up. I seriously hope you know that you need to be preparing for the worst, cause it's coming like a freight train. 

On to the lie - 

Complete breakdown was given in yesterday's post. 

Minis 60m - inside the rising pink channel is the falling blue channel - we're hitting the upper resistance of that now at 1870, the key point I was discussing yesterday. Above are 74, 80, 87 and then the round level.

This is all so stupid. 

More to come below.


Have a good day.

GL and GB!

Morning Charts 03/31/14 SPX /es

If you can't tell, lately I've been letting the news slide a bit up here in the post. There are multiple reasons for this. First, the financial and economic news is little more than a rinse/repeat scenario that's been going on for a bit more than 4 years now. Follow the Fed/Taper ON/OFF is what it is. Second, the MSM news is not worth reading. Third, the alt news that is delivered below in the commentary by each of you is probably unparalleled on the net (thank you). However, I have had a few local and electronic complaints about my lack of news coverage, so I am going to make an effort starting next week to deliver a few more (here, here and here) documentations of what I am discussing. I also will try and spend a bit more time on the cash charts as well. I ignore them to a degree, cause I have such a good grip on things by simply using the minis that I tend to ignore cash a bit.



On to the lie -

On the travel computer this week so things will look a bit different in the presentation. I updated this chart a bit last night. I did not find anything new when charting up the minis on this computer. I'll start with a brief overview of how we got where we are (that regulars should know by heart by now). 

Minis Daily - Blue channel off the 667 lows grows thru two rising wedges (QE 1 and 2) and takes us to what you see now (QE3 and QE4eva). What should have been the end game and the top near 1474 (concluding with the yellow wedge below) is where the nightmare begins. Note that yellow wedge support off the 1068 low back in 10/11 and where it comes thru the chart today.

So we go -

Blue channel
Yellow wedge
STB's Red rising wedge of death
Beige rising channel
Green wedge
and now Purple rising channel

Minis 4hr - (same chart as always, just zoomed in) - Blue LT multi-year channel resistance and rising red wedge of death resistance are overthrown by green rising wedge in the second of 4 major technical overthrows on 12/31 of 2012. Everything from this 1771 point has been even moar bogus than the move off 1474. Anyway, the first taper ON top hit and delivered our only correction since Noah sailed the Arc it seems. This led to the current rising pink wedge formation. The Ukraine crisis led to the falling blue channel in the rising pink channel. All of this is happening in the top of the rising red wedge of death, just above upper LT blue channel resistance.

Minis 60m - same chart as above just zoomed in - All last week STB was on a consolidation call thinking price would stay above pink support and below blue resistance. This is happening as upper red wedge of death resistance is in play with the backtest of the busted green rising wedge support. Man there is a lot of stuff going on up here. The HnS failure (did not happen) last week with 1844 neckline was a bit disappointing, but these are more bullish formations now than bearish it seems.

Minis 5m - (same chart) - All key points are very clear when we get super zoomed in. After all the background above I guess you now can see how critical each diagonal on this chart is. Here we are in the consolidation zone above pink and below blue challenging red resistance and backtesting green busted support. The gap up this morning and the move thru 1859 is a major power play by the Fed. What happens at the 1868 top and blue 1870 resistance above is key.

More to come below -




Have a good week.

GL and GB!

Open Weekend Post 03/29-30/14

You know the drill, share the love and the knowledge.

If you see it share it.

Enjoy the weekend.

GL and GB!

Morning Charts 03/28/14 SPX /es

I'll be in and out today.

Have fun, be civil and enjoy the weekend.

GL and GB!

Morning Charts 03/27/14 SPX /es

Well President Obama Prepares to Meet the People’s Pope, interesting. There are so many end of the world angles you can take with this encounter. I suspect they will communicate telepathically, have fun in a private room shapeshifting for each other and play a few private games of How to Destroy the World while they are together. I'll let you do your own homework on this one, so I suggest you research "Catholicism false religion", the "black pope", "papal prophecy" and "Obama antichrist". After that you can form your own opinions.

As for the rest of the news, it's bad.

On to the lie -

I'm really afraid I missed the top. Did Neo finally take a bullet? I've dodged so many that maybe I finally zigged when I should have zagged? I still have time to call it and be relatively close (as if in a game of hand grenades close). My fear of the eternal promise of QE4eva and a market dominated by manipulation and corruption may have bitten me in the backside. I have chosen this path, and I must continue down it. Fearful, respecting their power to literally do anything at any moment. There may be one last bull trap in them yet. We all know they can not let the market fail - until they are ready or the STB "event" happens (which may have been the Ukraine incident).

SPX Weekly - We are so close to the end. We are at the "any moment" point.

Minis 4hr - Ugly and hard to see - I know - Just see the rising pink channel, the falling blue channel, the point where blue resistance and pink support meet out to the right where I thought consolidation could occur, notice 1844 beige s/r, notice the long term thick blue market resistance diagonal intersection with the the STB red rising wedge of death support, notice the massive vast dark hole of nothing below that. The 1820 area is critical - very critical. Bully's last stand will happen near 1790.

Minis 4hr - close up - STB has been pointing out the 4hr 200ma support (white line at pink support) the last month or so - crack. Pink and green channel support - crack. HnS neckline and LT support resistance 1844 - crack. Blue channel50% diagonal (white dashed) - crack.

Minis 60m - Look at the right side of every ramp on this chart. Every instance is a two or three hour dump to take back everything they gained. Five of the last six days have has mini flash crashes. What can not be ignored here is the formation of the almost perfectly symmetric Head and Shoulders inside the rising pink channel, which is also inside a falling blue channel and pink support just failed at the HnS neckline/critical support 1844. Target 1810.

Now, be warned, the Fed sees all of this as well. How many time have we been to the edge just like this, and what has been the result almost every time. We're still 24 points above the STB red line of death that they've used as support so many times over the past two years. They have a bit of room to work with yet, so don't get too freaked out about all of this negativity in the setup.

It looks bad. It is bad. It should by all rights collapse, but then again, they are in complete control. They can not allow the market to fail. It will fail one day. This could be THE moment, or it could be just another false alarm. I suggest you be prepared either way but proceed with caution.

More to come below.



Have a good day.

GL and GB!

Morning Charts 03/26/14 SPX /es

SHTF? Well, not quite yet, but there is more crap in the air headed towards the fan here on earth than there are asteroids in the Asteroid Belt between Jupiter and Mars. Let me give you a visual - See the all of the white dots? Yeah, like lots and lots of crap. All shapes and sizes, all floating in space and all of them are headed towards some sort of collision at some time.

Our earthy projectiles are are somewhat contained in an orbit as well maintained by global sanity and rationalization. We know if our junk gets out of orbit, well, lets just say an asteroid impact did not go so well for the dinosaurs.

The Fed, treasury, central banks, the BIS, global governments, military and other influences are the gravity that holds our junk in place. Take the cold war for example. No one wanted to really annihilate the earth, so everyone got along despite our differences and nothing got out of orbit. Today things are a bit more complicated. We've added a lot of space junk to our atmosphere over the last 20 years.

Obviously I'm comparing all of the global and local financial, economic and social issues to asteroids. The list of our issues grows, not shrinks, every day. Just like the asteroid belt, some are really large and some are as small as a pebble. Bottom line is it only takes one to hit the fan, and every now and then some break out of orbit and cause a real mess.

That's where we are, waiting. It is a when not if scenario now. The only question is will it be one like the Chicxulub asteroid in the Yucatan, could it be a Tunguska event or will the next one be a false alarm like the the one over Russia in 2013? Bottom line is our space junk is volatile, flying thru the air and impact with the proverbial fan is coming.

On to the lie -

Same as yesterday - I think we're consolidating.

Minis 4hr - Rising pink channel support and falling blue channel resistance form a triangle that price may consolidate in for a few days.

Minis 15m - a closer look at support and resistance. More detail on this below.

Have a good day.

GL and GB!

Morning Charts 03/25/14 SPX /es

I can't make this any more simple, it's all about Fedspeak and nothing else. See the tumble in equities yesterday and Fed's Plosser: Market reaction to the Fed statement was surprising for examples. Or you can read Stock futures higher after Plosser speaks.
As the Fed backtracks their statements from last week, confusion reigns for the most part and markets don't like confusion.


The Fed will, in a timely manner, march out a couple of presidents or board members every day for the next week or so to maintain the temperature of the markets. They do it all the time. I think they call the game Dove, Dove, Hawk. These engagements are nothing more than controlled soundbites to maneuver the markets. Like a doctor dialing in your medication, but much more precise and professional. 

Let me try to clarify things for you. 1) ZIRP is here to stay, if they ever raise rates go immediately to your bomb shelter. 2) QE is all they got to stabilize the system now, and without it we would've crashed years ago. 3) Nothing is real, so paying attention to any of this is meaningless at this point (as far as reality is concerned). 4) It is all a distraction to wealth confiscation/transfer from the poor to the rich.

I do suggest you keep your vehicles fueled up, and get your gear and bug out bags ready. Things are going downhill fast and there is no sign of anything improving economically or socially at any time. They (the administration, government agencies and military industrial complex) are going to use the Ukrainian crisis to their full advantage to strengthen their positions of power. I thought this would take a false flag event (which may have happened but failed, 0 for 2 now). Of course if this crisis does not spin out of control, which is what they want, then the false flags will fly.

In U.S. Scurries to Shore Up Spying on Russia, if you will read between the lines, you can clearly see where they will use the situation abroad to expand their powers here. "America's vaunted global surveillance is a vital tool for U.S. intelligence services, especially as an early-warning system and as a way to corroborate other evidence. In Crimea, though, U.S. intelligence officials are concluding that Russian planners might have gotten a jump on the West by evading U.S. eavesdropping." Of course this leads to "The U.S. moves will happen quickly. "We have gone into crisis-response mode," a senior official says." So don't think this is going to happen just overseas. Can you smell that smoke? Yea, sadly that's what's left of the Constitution burning.

On to the lie -

Sorry that the /es minis chart, the more pulled back, are getting a bit tough to read. They are very busy, but I can not remove any of the lines on them. As I drill down they become clear, but pulled back they are a bit of a mess.

Minis 4hr - Try to follow me here - Rising pink channel where price traveled in the upper half of that channel in the yellow channel broke down and is now moving up in the lower half of the pink channel in the green channel (which was at one time a rising wedge that failed yesterday). When price broke the 50% diagonal of the pink channel and fell it has now formed a falling blue channel. I suspect that price with support of the pink channel and the 4hr 200ma will travel above pink support and under blue resistance and consolidate over the next few days around 1866. At the end it either breaks up and remains in the pink channel or the blue channel resistance holds and a major breakdown occurs. If pink support fails the odds of a top being set are very high. If this consolidation call works out, it could last thru 4/3.

That's it in a nutshell. Watch pink support and the 1844 level closely. There are two very different STB points out there - pink/blue at 1866 and below red (STB's red line of death)/big blue at 1823. If the 1823 point fails I think I will be forced to call a top. It is that critical.

More to come below.


Have a good day.

GL and GB!