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

Should be an interesting week with G20, PIIGS crashing yet again, QEII schedule announcement, for the most part I believe we have entered a state of limbo. Confidence is lost as the announcement of the Bernanke Put basically was the admittance that nothing is real anymore and our leaders honestly have no viable plans to revive the economy (well - how could they if they are on the inside with the bankers raping the middle class?). 

Economic Calendar -  Please ALWAYS check the calendar. Really quiet week for data. Thursday is Vetrans Day.

Earnings Calendar - Earnings info here at MarketWatch Earnings Summary HERE.

Pivot Points -

POMO Schedule - Last POMO Lite today. The next schedule will be released on the 10th.

Shanky's Dark Side - Where I call all the intraday action.

The big question becomes how far does the market separate from reality with QE Douche? What will $27T do to move equities with retail basically gone from the trading floor? Can they suck the sheeple back in to a 1999 style ramp for the last great wealth grab? Will the public remain skeptical as the 26 weeks of consecutive mutual funds outflows suggests? Will the insiders continue to sell at the fevered pace they have been bailing at? All big questions which lead us to a point of digestion. A point not to invest or get out, but a point to set trailing stops and sceptically let the market tell us if the RAMPant fraud will continue and for how long.

SPX Daily - On a POMO day you have to be expecting green, but then the door will be wide open for the bears tomorrow and Wednesday with no POMO's scheduled. Living in a parabolic state above the upper BB is not a safe place to play. My call for the euphoric post QEII/election pop-n-drop may have some chance still. I don;t think it will be as great as the 1130 pullback I was hoping for, so I have upped that target to the 1170 area for a best case scenario for the bears at this time. 60 points would be twice as large as any pullback that we've had since the climb off 1040, so that is an aggressive thought. Charting this weekend it was hard not to notice the severe overbought conditions, but we all know with the Fed and POMO ruing the co-located servers what can happen as soon as we expect a turn. What is different about this top and the one in April? Simple, the Fed will have QEII and they will not be pulling liquidity from the markets. That says enough alone.

30m Index Comparison Chart - I like it as a bear when all the indexes come together tile this. 

Holiday week but markets will be trading. Semi-quiet data week. G20 and Barry out there hocking his lies will drive some news. The PIIGS are crashing again. It is quite possible that we get some moves in the EUR or AUD that may move the dollar sooner than later (I will discuss the dollar more later this week in detail). Will the markets decouple from the dollar is a big question.

GL this week. It will be interesting and I'm mainly looking for the next POMO schedule on the 10th. Till then today is a POMO day, and we all know what that means. I will go out on a limb and speculate that this may be a rare red POMO day.

GL!