Thursday, December 11, 2014

Morning Charts 12/11./2014 SPX /es

OK, so this morning I did a really strange and out of character thing, like waaaay out of character - I went to the CNBS website. Of course the computer did not like the CNBS search I tried, but I eventually found my way to the right result. I was relieved to find it was a complete waste of time.

We've had all sorts of AI doomsayers in the news recently. Hawking even went off on it recently. GOOG even says not to fear the bots. So what are we supposed to think when the market algos become seemingly self aware and take market rigging to the ultimate level? 

Something for your reading pleasure - The Economy Is Worse than During the Great Depression

STB (soon to be prophetic) "event" - call me a fear mongerer if you will, but you'll have to start lumping those that run the system in with me (or me with them) - Why Is The US Treasury Quietly Ordering "Surival Kits" For US Bankers?

I have been mentioning the budget deal. I hope y'all have been paying attention. I suggest you read Congress Just Passed Legislation Ramping Up Mass Surveillance to Super-Steroid Levels. I like the way Drudge portrayed this post - Republican Betrayal. I am truly sickened by these actions and you should be as well. 

On to the lie - 

Yesterday I mentioned two things the oppose each other. First my 2025 target got nailed and second this fall's beginnings are somewhat similar to the last one in September. So, I'm not jumping all over the move south, nor am I discounting its possibilities. I've long been on a move to 2025 and then the Xmas ramp. 

SPX 15m - OK, I actually took the time to draw a chart. Well, what? You tell me if there has been any reason to lat a trendline in the past month? Not! What do I find on the 15m chart but an underthrow of ST positive divergences. 2063 is my bull/bear line. 

SPX 30m - 2025 and an underthrow. Looking at it, form is not complete. The 3's and 5's don't work but support got nailed. As mentioned, below 2025 is a massive supportless crater. 

SPX 60m - And the fall to STB's 2025 to set the potential lower support for the potential rising wedge which to complete will require the ramp into Xmas as I've been looking for since September. So we have A, B, C, D and now up to E aall in the red wedge. Well, at least that call looks 50% absolutely brilliant at this time. I do leave room for further south from here, but if so it will be quick and should stop around 1985 if it were to fall. 

More to come below. 

Have a good day. 

GL and GB!

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