Thursday, April 17, 2014
Morning Charts and Easter 04/17/14 SPX /es
Let me see, Easter holiday and opex, those are the equivalent of saying propaganda time and rigged market in the same sentence.
Propaganda time because, as the STB theory holds, they don't want any negative thoughts or discussions invading our homes over the "happy" holiday period. They want us completely distracted, wrapped up in just how frigging well off we are as our portfolios kick ass so we can all take the extra time to go spend moar on our credit cards.
Rigged market, well, with opex today do I really need to explain this any more to the readers of STB? SPY max pain is 186 and relative pain is 192, so we should have a bit moar buying to reach equalization. I will note that it has been a rare occurrence for markets to be approaching max pain from below instead of from well above over the past several years.
As for the rest of the world, it is what it is. We beat it to death here weekly, so let's give it a break today. We all, here at STB at least, know what's going down around the globe. We're all pretty clued in and got the 411 on the coming disaster.
Quick note on Easter -
Hard to not address the subject of sin today. With the apparent rise of satan and his influence of greed and corruption flowing through global governments and financial markets, maybe now more than ever this Easter season needs to be emphasized. Today is Maundy Thursday - the day of the last supper.
I'm gonna pull one part of the Easter story that I feel is most applicable to today - the story of Peter and his denial of the Lord in the most critical time. John 13:38: Then Jesus answered, “Will you really lay down your life for me? Very truly I tell you, before the rooster crows, you will disown me three times!"
Denial seems to be a reoccurring theme here at STB. We often discuss how denial is disgustingly rampant in every corner of our society. As I wrote back in my first post of 2012, God is dead. We've left Him and His ways, and our focus is strictly earthen now with little regard for our intended purpose. It's almost like being Christian gets in the way of our earthly pursuits. It's become a hindrance, because only through greed, bribery and corruption can we attain what we desire.
We all seem to want to do what we will and then use the get out of hell free card that Jesus gave us at the last minute. We're all taking serious advantage of and abusing this great gift. Peter's denial was a great lesson to us all that apparently we refuse to learn. Heck, we don't even have to suffer what Peter suffered, we just have to live by a few simple rules they set for us to follow, and we can't even do that.
We're lost, plain and simple. We need to find our way back to God as a nation and as individuals. We better do this in a hurry or our Muslim leader and all the sinners in DC that control this nation are going to destroy this country, the global leader of Christianity.
Sadly, as I've said before, either the end is coming or we're about to be cast out into the desert to wander for 40 years just like the Jews to pay for our sins. We're about to be cleansed one way of another, so I suggest you all get right with God. Instead of denial, let's make an effort to accept. Accept our mission to do His will and live in His way. You will be doing the world a great favor.
Funny, I talk about prepping a lot for economic collapse, social unrest and all that, maybe I should not forget to tell you to prep for an even more important event. Happy Easter.
On to the lie -
Minis 4hr - 1866 may be the number if this 1853 level fails as resistance. All this is happening right above the critical 1844 support resistance line (beige).
Minis 30m - The last time at 1866 at the intersection of pink and blue I correctly screamed reversal. The markets remain in a very dangerous spot. All this has been so far is a retracement. Sure near term resistance (yellow) busted and backtested yesterday, they took back critical 1844 s/r and we do live and function in a completely rigged market, but if the tide has turned then this is another spot where another real reversal is possible. Just keep your heads up.I prefer Monday over today for any real downside potential.Let me add that the STB red diagonal of death is clearly in the picture just below.
Minis 5m - Closer look at price reaction at upper blue channel resistance.
More to come below.
Have a great holiday weekend.
GL and GB!