Thursday, April 16, 2015

Morning Charts 04/16/2015 SPX /es

Greece - That's just about all you need to know. It's like a massive anchor dragging on the ocean floor, sometimes it grabs and the rest of the time it just keeps things slowed down a bit. This morning was one of those grab moments. I suggest you read this to understand just where Greece is.

"Greek officials floated the idea of delaying payments to the IMF due shortly after the government runs completely out of cash at the end of April."

That's "completely out of cash" in case you need that emphasized, as in bubkus, nada, niet, none, el zilcho in 14 days. This is real, I think we've finally reached the end of the road with Greece. Who is gonna lend them money now? 

"not to mention the fact that if the government defaults you would almost certainly see the imposition of capital controls in order to stem the inevitable deposit flight. Athens owes nearly €2 billion in public sector wages and pensions at the end of the month."

Capital controls may be the least of the worries as a country burns and global CDS start to sink like the Titanic. This may be another key to the banksters games coming to an inevitable end. The (long time STB hypothesized) Central Bank's "conduit" to flow funds (legal or not) to each other and to member banks thru Greece is about to go bye bye. This will possibly hit liquidity hard and possibly expose some hidden funding/transfer mechanisms they don't want exposed. 

So now they cry to the IMF, Russia or anyone for help. Will they let Greece go? Will they allow a collapse? We're about to find out what Greece is worth to their system. Another bailout and we'll enter the 5th dimension of the parallel universe to absurdity which is whatever it is, but it ain't right.

On to the lie. 

Earnings season continues to wow the CNBS disciples and woo the sheeple into believing all is well while the economic reports continue to disappoint. Who knows what's real anymore in the bad=good, good=good, good=bad world? Then throw in some classic Fed speak to stir the pot, and, as usual, we all reach for the Tylenol (or something stronger) to help us manage the situation. Bullard Hints The Fed May Hike Rates Only To Cut Them Right After is a classic example of this.

SPX 30m -  Rising blue wedge into ATH resistance area

SPX 60m - the red rising wedge - it's getting kinda stale I know, but since we saw it coming back in August, it's all we have to discuss. Price interacting with all sorts of critical support and resistance in a tight knot is what it is here. It really looks and acts like a tired market that can't go any farther and its legs are about to fall out from under it (Greece?).

SPXBP - This is not good. 

Freedom watch -  

Study: Over 27% of Student Loans Are in Default is something you need to know. When our future is being financially raped and tied to the financial grindstone before they even get their feet wet, we got real problems. No bubble here, only an awesome glimpse at how prosperous our children will be! Two words - Debt Slave.

"The Fed determined that of the nearly $1.3 trillion in non-bankruptcy-dischargeable student loans, the delinquency rate for students in repayment is over 27 percent."

More to come below. 

Have a good day. 

GL and GB!

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