Thursday, March 19, 2015

Morning Charts 03/19/2015 SPX /es

Greece is about to come back with a vengeance. Other than FOMC hangover and the economy self destructing, nothing else is new.

On to the lie - 

Post FOMC, was the move this week into the meeting yesterday real or just a headfake? 

SPX Daily - Just playing in the rising wedge right at the STB Diagonal of Death. Indicators are weak. STB Bull/Bear was at 2088. That unprecedented move yesterday took care of that point. As most know a move over that point only means one thing - a march to new ATH's. It has not failed yet. The position of price at DOD resistance and old wedge support is the last chance the bears have to stop another unadulterated rape of what some still mistakenly call a market.

SPX 30m - Funny, yesterday morning I was mentioning how out of character the fall after the open was, and they were not following the script of V bottom recoveries in the past. LOL, they corrected that issue quickly. If you'll take the time and go back and look at the moves of the lows that past 2 years or so (look at the falls as well), you will notice a great deal of similarity in form. It's almost like they have a pre-programmed playbook.

Freedom watch - 

Administration sets record for withholding government files

"It also acknowledged in nearly 1 in 3 cases that its initial decisions to withhold or censor records were improper under the law — but only when it was challenged."

More to come below. 

Have a good day. 

GL and GB!

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