Thursday, June 27, 2013

Morning Charts 06/27/13 SPX /ES

Why don't we keep it simple today with a couple of chats and a few words of advice.

Advice first - They control everything. Get used to it. Nothing is real. What you know to be true is true, but we live and play in their fabricated reality, one day the bears will be very right but till then nothing is real.

Minis 4hr - Thru 1595 and I'd like to welcome all STB passengers to the first major resistance destination 1603 area, the 38% retracement and the green channel resistance. Anyone departing here please get all your belongings and watch your ass as this journey may only be halfway thru. For those staying on the bus (yup, bus - sorry - it is a nice coach bus with plush seating - we're in a recession so the G IV was out of the budget) our journey to the second major resistance destination just got a little longer.

What used to be 1620 is now closer to 1630 and the backtest of LT pink channel support. Interestingly enough the new hot pink resistance and channel backtest support make for an interesting STB point near 07/03 at 1630. I wish it were in the channel, but if you look out your right window you may see a rising wedge forming that will get us to that point.

Minis 30m - A closer look at the map show our buss departing from the edge of oblivion as the Fed gives us a turbo boost combined with a ton of false bullish information from the MSM, BLS and other various mouthpieces of the establishment. Your captain (that'd be me) can get a bit confused with all the noise and bad is good and good is bad mumbo jumbo, so it's best if he just sticks to the map/charts for our navigation.

Funny thing is we're at a fork in the road where a hard unannounced right hand turn may be in order, so make sure all your belongings are secure. If we should continue straight the next minor attraction is near 1622. Then we'd continue on to our second major destination at 1630 sometime next week. At that point I suspect the journey thru the mountains will have everyone wanting to puke and a mass exodus will be occurring. Heck, the buss may even fall off the cliff at that point.

Note 1608 makes for a perfect ABC, if she turns there I will order an immediate evacuation of the bus.

More to come below. Thanks for traveling STB bus Lines. Maybe next time we can go on a cool boat or something.

Have a good day.

GL and GB!

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