Friday, September 5, 2014

Morning Charts 09/05/2014 SPX /es

If I went into virtually any topic right now I may just spew so much negativity that it would crash the whole net. In lieu, I'm just gonna keep my mouth shut for once. Well, at least till Monday (or till I hit the comments section below). What a crock EVERYTHING is right now.

On to the lie -

Daily SPX - The indicators literally shit the bed late yesterday. I'm certain this is some sort of new fangled bullish action that the algos will celebrate in the morning with yet another gap up open - that of course will immediately fade. Note the dollar explosion (gray dashed) in this chart. Phenomenal - if anyone in the peanut gallery cares to explain this sudden phenomenon - feel free below.

SPX 60m - Look at the ramp to the 4th then up, down churn - they tried to do it again - like the exact same playbook. Another overthrow (more than one actually) backtesting busted support (black) after breaking near term support (pink) with massive negative divergences all over exceeding the double top. I've been talking about this all week, but every morning some bullshit news bite that is retracted minutes later pops out and markets pop up as algo go wild. Never mind the retraction, it's the first news that counts, real or not.

Right now the technicals are pointing to something big coming as early as today if not this weekend. It's coming. We got the Labor day ramp, and now the BS follow thru this week - that we all know is a load of crap (but that does not matter in this game). The dollar is exploding for whatever reason. Bonds, gold, oil, the VIX - the story is building in the dark as the powers that be put on possibly their final full court press. 

Remember that old nursery rhyme - things that go bump in the night? Shuh, the bogeyman in this case is real, and when he finally comes out from under the bed it's gonna scare the shit out of all of us. 


More to come below. 

Have a good weekend. 

GL and GB!

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