Friday, January 11, 2013

Open Weekend Post 01/12-13/13 SPX /ES

You know the drill, share the love and the knowledge.

New poll question to the right you need to complete, please.

UPDATE - SPX 60m  - Second divergence is usually not a good sign. Be warned, I've seen 3 to 5 divergences in the Fed years. Two is not good. That small rising wedge may have been it for at least short term. Add this to the divergences on the daily chart below, and, yes, you should be scratching your head as to why Thursday the market did not continue its fall.

From ZH - Are you ready for hyperinflation? Maybe cash counting machines is a good business to get into? Just wait till you have to carry your cash in your trunk and not your wallet.

Many angles to exploit this weekend from China/Japan tensions to serious debt injections to failing economy to gun control to spreading flu bug to ... well, there are lots of places to go with comments and discussions including the potential top here of course. You know what to do. Post away.

Throwing a little salt in the wound - as we all know this is what it will all boil down to and why we fight wars to protect the petro dollar world reserve currency in the first place - Fed official warns about slipping into currency wars. You best get familiarized with this topic if not.

Minis 30m - the two channel possibilities (blue and green) at upper pink channel resistance and yellow upper market resistance at the 1468 double top level after the post market crash high Thursday after the close. (that was a mouthful)

Daily SPX- I'm calling it an overthrow to a double top with overbought conditions and negative divergences everywhere. Courtesy of the Fed who knows the markets are in an extremely precarious spot.

Have a good weekend!

GL and GB!

No comments:

Post a Comment

Keep it civil and respectful to others.