Morning Post, SPX, S&P 500, E-mini

With the AUD/JPY pair at resistance (basically in the same spot as the minis since it has tracked - or lead - the markets) and the 30m chart with a nasty divergence I'm gonna do what it tells me to. With the EU stress test results coming today, the AMZN debacle and the markets being divergence central I have to vote for a down day today. Will the market continue to celebrate bad news and ramp anything marginally positive?

Economic Calendar -


Earnings Calendar -

Minis fell back to the busted diagonal and this VWAP this morning, so support is set here and then 81 is the next level. If 87 cracks I think it calls pretty quickly to 81. If 81 cracks then everyone will be significantly confused again. Who knows with this psycho market. I'm just following the 30m charts around (up or down) and trying to keep my nose clean till a clear trend is established (up is the majority bet right now with targets on the web ranging from my 1111 to some as high as 1175)

SPX 60m - I got a light sell line on the chart. 30m are there. I am not ruling out some sort of blow off top here before further weakness. IMO there may be more bullishness out there than there should be, but you can't fight the trend.

GL!