Friday, December 20, 2013

Open Weekend Post 12/21-22/13

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

If you see it post it. I will not be around much this weekend, but I will check in and post anything I find of interest.

See Fridays post for all the charting and top talk info you need to see.

Daily SPX -  Another overthrow? We had yet another 61% retrace to a new high scenario. Insanity rules in fantasy land. Oh, did I mention the 15th consecutive negative divergence without any sort of meaningful correction? Never seen anything like it. Then again we've never experienced a completely rigged and manipulated market either. I'll add bout the only sign the reversal here was gonna happen is STB's fav early turn indicator the MACD histogram. Now, none of this means that the turn is in. I remain very bearish, but I'm not putting money on that feeling. The Fed has taught me reversals are impossible. 

Enjoy the weekend and the coming Christmas week.

Merry Christmas and happy holidays. 

GL and GB!

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