Friday, January 27, 2012

Morning Market Summary and Charts 01/27/12 #SPX

Did someone call shenanigans? If not they should have. GDP was not so hot (and you know those numbers are pumped up to make them look better than they actually are). So what happened to all this crap about 2.5% or those considering "raising" estimates or ranges up to 3.5%? Where did all that talk go? Where did all that talk get us? Just another Wall St. shenanigan to get you to believe all is well so you will remain invested. The funny part (well, not so funny) is that not one "analyst" will have their feet held to the fire (they never do) for this bullshit.

Q4 GDP Misses Estimates, Inventory Stockpiling Accounts For 1.9% Of 2.8% Q4 US Economic Growth | ZeroHedge  "where a whopping 1.94% of the upside was attributable to a rise in inventories as restocking took place. And as everyone knows in this day and age a spike in inventories only leads to sub-cost dumping a few months later. In other words, the economy grew at a 0.8% pace ex inventories. Yet for all intents and purposes, this is considered "growth.""

The lies will catch up to them one day, and when that day comes there will be hell to pay. Sadly it will not be just the liars and cheats that will get it in the end, but all of us will be effected

I'm pissed, ThinkorSwin has this tiny "reset" button next to the print button - it clears all your charts - like everything - looks like I get to rebuild all my charts if I can't get them restored.

60m SPX - Look out below. Before I deleted all my ToS stuff on the minis there was a beautiful 30m candle surging under the lower green wedge support diagonal. that is the signal I've been looking for. On the cash chart below the red support will fail at the open as they took the wedge to its absolute max. The only question is will the larger black wedge be in play or not? Backtest should be anticipated, but is not necessary.

GL and GB!

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