Friday, February 14, 2014

Morning Charts 02/14/14 SPX /ES

Numerology day? 2 14's? On a full moon? Who knows?

And your fun fact of the day - 14 is the atomic number of silicon. Valentines, silicon - I'll let your mind ponder that one. 

Very brief this morning, STB's kinda disgusted about the below disconnect and the results of such. 

But wait, I thought, you mean, no way .... ah, the new normal - Japanese Stocks Are Crashing As USDJPY Loses Critical Support Soooo, we're not tied to the pair anymore? Is this temporary? Did we break up just in time for Valentines? Must have been good, but not all that and a bag of chips. Maybe this is just a rough patch and they will get back together when the pair starts acting right again.

But all is well in our markets cause the EU GDP data is kicking ass! Now if you believe this after all the GDP revisions here this past week, be my guest. If you have not learned that GDP announcements are nothing more than a big lie to goose the markets then you are a bit slow, sorry.

Just keep on laughing folks. It's all you can do at this point.

Gold is breaking out? Well, well, well, someone around here back in January was harping on a DCB double bottom (that worked well with the 1/15 top in equities. Well, gold is moving up and equities are ... moving up? Something is not right here.

On to the lie -

Minis 60m - Back in the channel. Resistance and support runs from 1843 to 1803 in 10 point increments. May have another challenge of green support today. Not drawn but price may either be channeling or wedging out to the right here and in a new formation.

More to come below.

Have a good weekend.

GL and GB!

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