Friday, November 21, 2014

Morning Charts 11/21/2014 SPX /es

Ya know, never, ever, never, never, never discount the holiday ramp. As in - NEVER!

I'm not sure the Chinese time stuff for everyone's benefit or not, but last night's rate cut just crushed those anticipating a potential turn today. 

The US is now a dictatorship. 

Ferguson verdict coming. 

On to the lie - 

Well, boy am I glad I did not bother to mess with any charts this week. Would have been a waste of time. I'll have to update this weekend though. Nothing like sitting down and charting up a disaster only to see some idiotic action send futures soaring at the most improbable moments to overthrow after overthrow of technical situations that would otherwise suggest different. 

SPX Daily - One would think the pop off valve would have to blow and release some steam, but then again in fantasy land does anything associated with reality matter?  Looking at the setup, the dailys need a larger negative divergence. This would require a pullback and then pop. How that happens is beyond my comprehension, as if neg divs matter anymore anyway. 

More to come below. 

Have a good weekend. 

GL and GB!

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