Friday, June 6, 2014

Morning Charts 06/06/14 SPX /es

When the whole world has gone nuts there is really little you can do but sit back and watch. The way things are unfolding now is really insane. The big grab. Everyone with blinders on grabbing anything they can as fast as they can. It's as we're turning the corner from sheer desire and greed to survival. The panic state of I've got to get mine is overwhelming. 

Sadly the banksters and the 1% are the only ones really getting anything. The further we go into debt the mere control they take and the more money they make. The divide between the haves and have nots is growing at an exponential rate now.

Unfortunately the debt is unsustainable and the governments and central banks continue to encourage this behavior. Like it is the last hope of civilization, the last chance for growth, we're being waterboarded by debt.

From the resurgence of subprime lending in the US to the most recent negative rate debacle with the ECB - debt, debt and moar debt is being encouraged as our economic savior when this is actually the last thing we need. 

All the 'promises' of hope and change have turned to moar of the same. All of the regulations and initiatives to ensure the debt crisis would never happen again, the ones that were all the rage after the last crash, have been shelved and completely forgotten. What have our 'leaders' delivered? Nothing but a bunch of lies and moar of the same.

All that drives the farce that is the market is the promise of even moar unsustainable debt. Train wreck? LOL, this is more like a direct hit from a supernova. We're so toast, but the markets keep on rolling along. 

So sheeple, keep those blinders on. Go spend, spend, spend while you can. Get yours. Get all you can. Get someone else's while you are at it. Pay no attention to the world around you or the consequences of your actions, those are for someone else to bear. As a matter of fact, the governments have that all under control. They promise.

On to the lie - 

Minis 4hr - Prolly the best overall look. Red rising wedge with yellow and green rising wedges all overthrowing upper long term blue resistance. Overbought is an understatement. All that's left in their way is the upper red resistance on the rising red wedge of death. Inverse HnS target of 1946 matches where red resistance is today. Every possible resistance in the world other than upper red has been abused and is being overthrown here. This is insanity. 

Minis 4hr - All in one spot - every diagonal that matters is in this chart. Note the massive hole below yellow 1921 level. 

More to come below.

Have you shared STB lately?

Have a good weekend.

GL and GB!

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