Friday, November 7, 2014

Morning Charts 11/07/2014 SPX /es

Bout the only thing I got this morning is that we're now supposed to be worried about Russian Malware that can like shut down America or something like that. You know I'm worried about an event, and maybe there is a chance this is a primer for something to come. Odds are that this is just another scare tactic that they will use to delve further into our devices. 

Things are beginning to pick back up now that the election is over. Same old news stories being recycled thru the system, but some of the focus has changed. Ebola, which they were touting to have like 40 billion cases in Africa by this time a month or so ago is barely even front page news now. Immigration (other than the threat of amnesty) has all but disappeared from MSM coverage. It's amazing how they use the MSM to manipulate public thought. It's also amazing how we fall for the same line of shit over and over again. 

To me. it's almost like there is an identity crisis now that the democraps are not in control. Pelosi and Reed have thankfully been relegated to irrelevant status. Everyone now must wait on the republicans to make their first move. I'm enjoying the quite ot of DC for now. 

As for more important economic and market news - petrodollar, oil, gold/silver, GDP miss, buybacks, earnings revisions, treasuries, rigged markets, ECB, IMF - same threats but with a bit more caution surrounding them than before the election. Apparently there may be some discomfort in the global financial arena with the power change in DC. 

As we all know, nothing, I mean nothing matters but QE (simply spoken, promised or actually delivered). 

On to the lie - 

SPX 60m - Incredible. Still my favorite chart from last summer till now (30m is a close second). I'm watching the backtest of those green diagonals that guarded price so well last time. Price remains same as the past week, near term negative divergences continue to set and then get abused. I'd like to see some sort of pullback and soon. If they are gonna do a turkey day ramp and then Xmas ramp, they really should let some steam off first. This would allow for the daily indicators to set up proper negative divergences for the January plummet as well. Of course they may just decide to shove it in the face of the bears once again. 

More to come below. 

Have a good weekend. 

GL and GB!

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