Wednesday, February 26, 2014

Morning Charts 02/26/14 SPX /ES

Not gonna moan today. I hit y'all pretty hard yesterday, so I'm gonna give it a break today. I will say it's really bad out there and getting worse. Stay in the alternative media and away from the MSM. Gather your thoughts and feelings. Get your mind right. See reality for what it is, not for what they want you to see. The propaganda is horrendous.

On to the lie -

SPX 60m - The perfect double top? Double negative divergences at this top. This is a recipe for disaster.

SPX Daily - On our 19th consecutive negative divergence without a major correction. Bout the only think I don't like about this chart as far as downside is concerned is the fact that the BB's are so wide.

SPX Daily - Are we about to enter yet another overthrow situation? The last one did not last that long, which is indicating weakness and a possible top. Can they push the daily thru yet another set of negative divergences that indicate very weak support? This double top black wedge support backtest is really juicy with all the neg divs below and the news what it is.

Minis 30m - Fighting for its life to hold that pink rising wedge support. New rollover rising green wedge support is getting beat on as well with neg divs on the short term charts as well. This set up is looking rather dire and may require me to pull the trigger on another swing short soon.

More to come below as I digest things. If that green support goes (1844 s/r area) it could get interesting again.

Have a good day.

GL and GB!

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