Enough of the bitching, you all have heard it all and know the story. Lets look at the charts real quick and see what we can derive. Remember all they are doing right now by raising price is buying time and room before the next move south.
Minis Daily - Busy chart, but it is the best I got. Rising blue wedge into pink resistance. The wedge busted and by all rights should have failed miserably this week, but you know how that story goes. So here price is trying to rally again. Right now it looks like 1368 should be the strongest resistance and then the triple top at 1375 with a triple negative divergence (on the daily no less) should be (should) it.
Minis 30m - Just a closer look at the BS traders are having to deal with this week. What bad data? LMAO!
RUT Daily - yes, I chart other things than the minis and SPX. Inc has been harping on his RUT, and since the daily death cross is less than a point away I thought I would share my recently updated RUT Daily chart. Folks, a death cross is a death cross. Just note the 50 and 200dma positions and follow the bouncing ball. This cross will have to trigger some sort of sell programs.
The waiting game continues for the bears. I posted a new poll question above to get the boards feedback on the timing of the end. How long can they extend and pretend? How long can they spew bullshit rumors and lies and keep this market afloat? SSDD as we wait on the inevitable.
As usual, more charts and price specific commentary as the day goes by in the comments below.
Have a great weekend!
GL and GB!
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