Thursday, August 7, 2014

Morning Charts 08/07/14 SPX /es

If you don't visit STB late night, you should. All sorts of great info flows in the evenings when the topics can run a bit wild. 

I really don't have much to say or elaborate on that I have not been covering since before the 4th. Things are continuing to escalate globally, and domestically things are not getting much better either. 

RC went hog wild after seeing this last night in the comments section - US Dependent on Russia for NASA Launches; Well, Guess What? Russia Fires Back With More Sanctions: NASA, Pepsi, McDonald's, Autos in Spotlight.  

Apparently Obummer has really screwed the pooch this time. Talk about a no win situation.Now the idiot has pissed off the Russians and his corporate mafia. I'm not sure there is anyone left he can anlienate at this point. 

Is it any wonder the 'markets' are starting to act a bit nervous? I mean they are at critical support, the point where levered bounces materialize out of thin air and reassure everyone that the recovery is for real. Sorry, to assume that the markets are 'reacting' to something negative would infer that there is some sort of reality involved. 

Is the MATRIX finally showing signs of a glitch? 

On to the lie - 

Yesterday I was thinking about an ABC correction on the minis. I'm looking at my bull/bear lines (62% retracements) to judge who has the ball. Right now, you could say I'm laying in the weeds watching closely to see if anything develops here or in the near future. 

SPX 30m - Fairly good look at the near term action. Three gaps above? What are we on another planet?

More to come below. 

Have a good day. 

GL and GB!

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