I am still very bearish on November. My main opposition to the call is the EU illegally printing, the corruption and fraud continuing, the bots of course and the rumor mill that all will be saved. On my side is everything that is reality and the debt ceiling vote.
I'll get my wit and senses back soon, possibly by the AD later today. STB has just hit one of those walls where reality and fantasy meet (I have hit two of these previously) and the facts just don't add up (they never will). The frustration (having nothing to do with investment performance as I have been in cash for some time now) with governments and politicians incapable of diagnosing and facing the tough choices that must be made for the state, and instead fighting for the special interests and the banks is really remarkable.
The minis chart the best. What we have on the daily chart is a blue wedge that has busted down and price is now backtesting the loser wedge support (best seen on the 30m chart below). All of this is happening in the confines of a large yellow channel under the resistance of the diagonal (orange) off the 1370 and 1345 tops. The minis are also close to backtesting the larger resistance which is the old support diagonal (pink) off the 667 lows.
Minis 30m - Same chart drilled down. You can see busted (blue) support and price simply backtesting crawling up in a wedge (green) the underside. 1257 is a major s/r player as well as 1236 and 1220. I'll give all the targets and s/r numbers in the comments below.
Minis 1m with VWAP -
Remember the reason for the season!
GL and GB.
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