Morning Charts 05/01/13 SPX /ES

Believe it or not, I'm still having a tough time getting my head around the severe level of corruption and manipulation. Not only in the markets, but it permeates almost every corner of the globe, every business, everything financial. If you are not on the inside or bribing someone you are SOL. Ethics? Morals? HA! If you bring those to the game you've lost before you stepped on the court (and that's even true in the big business of religion). You better check those at the locker before playing this game.

It's like, hared to grasp at time how deep we are down the rabbit hole. Oh, I get it. I get where we are and where we are headed 100%. I have non wavering conviction on how horribly this will all end one day. It's how unglued, how dirty and corrupt we've become. How crushing your neighbor or employees has become a badge you wear with pride all in the name of gathering the most dollars. It's just sickening.

I guess we deserve what we all get in the end. The greedy ones will get their due, and the passivists that let it all happen will learn their lessons as well. It's just so sad it had to come to this. I guess it is human nature. History repeats its self, and we refuse to learn from it as a few bad marbles game the system, take control and then corrupt the rest. Boy are our founding fathers laughing at us now. Well, either that or they are really pissed off, cause if they knew they were gonna sacrifice everything, even their lives for this shit I think they would have taken a pass and sailed on to the next semi-uninhabited chunk of land.

On to the markets -



We're starting the day off fresh new all time highs. Overnight the minis made it all the way to 1595.5 and have abruptly retreated since. The eyeopener of the morning, an ADP miss that did not ramp the markets! Who'd a think it? As for the sell in May deal, we'll have to see about that. Right now the charts are screaming sell, but they have been since the Cyprus debacle 90 SPX points ago back at 1510. It's jaw dropping, death defying price action. As I say, the two P's, Patience and Prepare. That is all that's left now. This market ain't going anywhere "they" don't want it to.

Minis 30m - Testing blue channel support again and recently busted resistance here in the 1587 area. Everyone including the Fed and CB's knows there is a big, vast, supportless dark hole below price here. That is not a place they want to let price roam. It could get lost and not find the light at 1600. A reversal is gonna happen at some point in time. They will let it breathe. They have to keep it alive and give the appearance that this is a fair market. I'm not counting on the big one till my event happens, and I believe we'll all see it when it does.

SPX 60m - In the mean time the 60m chart will force their hand eventually, but I've seen this thing go into seven, yes, that's seven negative divergences before it turned

Once again blogger is not letting me upload stockcharts - use the link.

More to come below - sorry I was late.

Have a good day.

GL and GB!