Friday, February 15, 2013

Morning Charts 02/15/13 SPX /ES

I'm gonna get deep in the chartbook to see if there is anything worth posting. I used to bring out some pretty damning charts providing evidence of the market's screwedupness. I stopped for a while of course, cause charts no longer mattered as the QEfinity train was and remains fully stoked with fiat. Well, it may be time to start revisiting some of these technical doomsday scenarios as the irrational exuberance over fraudulently manipulated markets may be wearing off a bit.

SPX/TNX - 14 years. Either way, if TNX corrects up or SPX down, the scenario to get these two back in harmony is not good. Looks like your gonna get crushed no matter what you own.

Minis 60m - White channel is the dominant pattern here. Green wedge breakdown should indicate weakness here, but should and will in a Fed QE dominated market are not the new reality. The STB point in pink bounces around depending on the time frame of the charts.

Minis 1m - VWAP and 1m 200ma in total control. 1 point off new recovery highs. Hooray! Upper Vband getting abused just under red resistance at 1522.

Here is a good video covering the meteorite in Russia this morning -

Have a good weekend.

GL and GB!

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