Tuesday, April 7, 2015

Morning Charts 04/07/2015 SPX /es

What else can you say? Just check out the charts in this post - The Warning Sign One Permabull Is Concerned About Is Now Flashing "Record" Red

On to the lie - 

I'm gonna give you my favorite two charts right now, again.I think they simply tell the best story right now. It's a struggle between critical support and what's proving to be strong resistance (both technically and via lack of Fed intervention). FOMC Wednesday should cause a break one way or the other. I don't think the market will appreciate any indecisiveness from the Fed, so the odds of a move south outweigh a move north IMHO.

SPX 60m - The red rising wedge. Consolidation while battling with support and resistance at the critical bottom of the wedge.

SPX Daily - Wedge support and Diagonal of Death (black) resistance with weak internal support.

SPX Weekly - A different look with the weekly close. 

Freedom watch - 

I'll say it again - to words - hard to believe, but you better - Sustainable Development. Video: UN Climate Change Official Says “We Should Make Every Effort” To Depopulate The Planet
"There is pressure in the system to go toward that; we should do everything possible"
That's from the horses mouth - no conspiracy here. This is real. 
As for the STB NCAA Challenge - RC makes late charge to take the title and Skysurfer passes STB to finish second. While disapointed that I did not take the title, I did find it hard to root against KY and Duke (SEC and southern teams) vying for the championship. So, I get the best of both worlds, a good showing, my friends had a good time and honestly the teams I wanted to win and do well did. All in all, another successful tournament. Thanks for playing.
It's Masters week!
More to come below. 

Have a good day. 

GL and GB!

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