Tuesday, August 5, 2014

Morning Charts 08/05/14 SPX /es

The power of community. I think STB personifies how things should function. A true democracy in motion. Impeccable leadership  - LOL - just kidding there - more like impeccable individuals coming together to discuss far ranging, diverse, difficult and sometimes horrifying topics. Agreeing and disagreeing in harmony and respect. Amazing at times.

Y'all make my job easy. In the early days things were a bit more difficult. Charting really mattered. Discovering, exploring and predicting the path to come was a daily event. Then came the 'follow the Fed' years, and now here we are living out the death of the dollar and the coming end game. 

We're a very unique bunch. Stalwarts that don't take shit off anyone, yet at the same time open minded enough to listen, observe, willing to learn and smart enough to realize when to change course. That makes this group even more amazing. 

Whether investing or the topic is conspiracy laden, we live on the edge. We're a unique group willing to take and discuss fantastically negative, improper and non-pc issues as if they were normal fare. That's not normal. You do realize we're a bunch of nuts, right? 

Funny when the 'nuts' are consistently right on their memes and mostly right on their market calls. Maybe there is a method to the madness? Maybe there is something to seeing and speaking the truth? Maybe there is something to living, accepting and dealing with reality rather than ignoring it. 

I need to thank you all for your participation and daily sharing of the love and knowledge. STB was founded for the 'do it yourselfer'. I hate advisors. 90% are a total rip off. What STB has evolved into has far exceeded anything I ever imagined. Now if we could just keep internet freedom for a few more years ......

On to the lie - 

I think potus is about to do something really stupid to disrupt everything (like worse than he's already done). We almost had a CDS trigger yesterday. We're getting close to an 'event' that can't be buried or reversed. 

SPX Daily - Everything near term is oversold and bouncing off critical support. There are lines that are not supposed to be crossed - that support diagonal is one of them. That is the equivalent of the old STB red diagonal of death on the minis charts. I used it to call more bottoms than a DJ at a strip club the past few years.

SPX Weekly - This chart like the daily is still under red reversal candle alert. One day it will get confirmation. It will happen. Diagonal support is there with the 20 ma's. Again, some lines are not meant to be crossed, and the Fed knows this. I've mentioned that each overthrow has pulled back to back check the initial overthrow point. the move to 1916 came close. Cash and the minis stopped just short of what I'd like to have seen (closer to 1900). They are trying a reversal, but let's be patient and see what they can muster. Gap support near 1961 and the s/r there marks my bull/bear line. Below that and the bears still have the ball.

More to come below. 

Have a good day. 

GL and GB!

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