Wednesday, April 3, 2013

Morning Charts 04/03/13 SPX /ES

I honestly don't think much commentary is necessary this morning - to sum it up - what ain't bad? Guns going, cash gone, missiles firing, charts topping (well, maybe), care to complete the list? Think the Fed's panties are in a wad? GS? JPM's? How about the EU, the IMF and the ECB that have opened Pandora's box? Outflows? they can't happen but will be demanded. Wow, this thing is falling apart, finally, right in front of our eyes. And to think there are a multitude of sheeple out there that are totally clueless.

You may not have to remain patient much longer my friends. I know this run (for the bears here at STB especially) has been more than agonizing. Unfortunately I have not been able to help your pain with daily doses of Follow the Fed turning to calls for Patience mixed in with a well timed mention of a turn to unprecedented manipulation back in August.

We've discussed it endlessly for close to two years now in the commentary below, they can't let the markets crash or even correct at this point. The catalyst (Cyprus) has finally arrived. I've thought is would be something that would eventually hit them square below the belt and where they can't print it away. Deposit theft and bank runs will be the ultimate game changer. What's to come will be even worse, and they will steal till there is nothing left. Sadly, stealing all the money in the world now will not make the debt crisis ever go away.

All we bears need now is one slip in price. We need for the right sell stops to be triggered and then the HFT algo bots will start the war. Then the banks will start looking for bigger fish to feed on (think LEH round 2). When the banks finally turn on one another, this will be your last chance for preparing for the worst case scenario. Hopefully I won't have to say this much longer, but remain patient STB followers. We're close.

On to the markets -

SPX Monthly - I tinkered and came up with this chart yesterday - There is room for them to run it a bit more, but it will be insignificant in the overall scheme of things when price finally turns for good.

SPX Weekly - April. Can they make it past April?

CPC - The divergence and levels are incredibly telling.

Bullish Percent - Price can't hold up to this divergence. This chart also illustrates the real insanity in the move in price these past few months.

There you have it. It is what it is and patience. That's all I got. There is no magic or need for BS or over analysis at this point. Time is the key now and they are only a few grains of sand left in the hourglass left. The catalyst is set. Now all we need is my "event". I hope you are ready.

Have a good day.

GL and GB!

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