Wednesday, July 11, 2012

Morning Charts 07/11/12 $SPX $ES

It is a long hard journey for the believers in reality and those that can see thru the malaise of bullshit sewn by our government to mislead and deceive the sheeple. I'm not sure which side of the fence is better at times. The sheeple live with blinders on moving along not affected by anything, living stress free (if they have a job) and enjoying the moment cocooning their lives away. The wide awake (most here) go to sleep and wake up in the multifaceted nightmare that has a death grip on every aspect of your life that represents freedom and liberty.

It would be nice to be able to go to bed and not have to worry about the rising totalitarian fascist state that this country is becoming. Not to have to worry about the financial collapse. Not to have to worry about the global war that (as history has proven) will result from this instability. Not to have to worry about the poisoning of our food and Monsanto's GMOs. Not to have to worry about the elitist crony capitalists turning us all into debt slaves to eternally support their system of corruption and greed. Not to have to worry about Little Shanky 1 and 2's future and what sort of horrific world they will have to live in (especially if Obummer is reelected).

That is not an option. They are taking over and we must fight. We must act. We must vote accordingly and protest till they give in. The sheeple will win this fight, but it will be a long hard battle. Sadly it will not be till we are all awake and in the streets till the tide can be turned. We can not win till we are united (not separated by the false paradigm). Now is the time to put aside our differences, find a common ground and unite to save our freedom, our liberties, our God given rights and save this country from the crony capitalist regime.

This will not be easy as the sheeple with blinders on do not want involvement. They want to be taken care of. They want to be left alone in their cocoons and would prefer others to manage the fight for them. It is to much work and involves effort to make change, so they will continue to have their freedoms taken away one by one till they are all gone and sadly will never have noticed till it is too late. They will conform as they are being taught to do. They will yield everything to the government, the ever expanding nanny state, till  they will have lost all control.

I do not know about you but I do not want to live in a country where everything from how you wipe your ass to when and how you can have sex is regulated. Yes, they will rule every aspect of your life one day if we continue down this path and it must be stopped. Please talk to your family, friends and neighbors about this. Wake up as many as possible to the tyranny that is upon us, so in hopes that we can stop the tide and take our country back.

As for the markets -

Minis 60m - 1341 cracked and is now resistance. Blue diagonal support sits near 1329 and that is the next and last key support till we get to big red down near 1300. Can they keep price in the rising blue wedge? With the way earnings season is getting started that will take some serious effort from the PPT and team manipulation. I don't think it is possible, but we've seen them pull so many rabbits out of the hat you never know. There is a chance here that a really large Head and Shoulders pattern is being set with 1300 or big red as the neckline and 1375 as the top of the head. A fall to 1300 and then a backtest of 1341 would make for a nice right shoulder set up.

BTFD/STFR Chart - I started screaming about this last week and hit heavy on it when price reached my 1374 second and last target for this run. If the bears are right, this could get really nasty from here for a month or two. Buying here based on this chart's history would be suicidal.

Daily SPX - You can see where we should head if we break the upper blue band support. Price does not like the rarefied air over 1375 and may prefer the oxygen level near 1260. I think it gets worse though. My three targets for this fall are 1260, 1220 and then the 1170 area. The Fed will step in there.

As usual more to come below. that minis chart above should be all you need today with upper and lower points of interest pretty clear. Earnings season will add to the confusion, so be nimble and keep some powder dry.

GL and GB!

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