Thursday, February 20, 2014

Morning Charts 02/20/14 SPX /ES

OK, I'm running late, took a peek at the news driving things this morning and came up with .....nothing. Scanning ZH - JPM never loses, employment is friggin awesome and the PMI number - well that beat is completely confusing. As to the PMI number, I guess the bad is good meme can't be all bad, so they have to throw in some fluff good stuff for balance. Of course this is all BS and none of the numbers represent anything that is real. They print what they want when. With the PMI, maybe how, why or when they printed what they did are the best questions? I think they are dazzling us with BS and doing their best to keep us confused and guessing.

Things are way too quiet this morning. 

On to the lie -

SPX Daily - Neg divs setting up again. See dashed red lines. These are not good.

Minis 60m - 1833 is critical resistance for the bears if they want to stay in the game here. 1823, 1806 to the round level are critical support areas.

More to come below.

Have a good day.

GL and GB!

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