Monday, June 15, 2015

Morning Charts 06/15/2015 SPX /es

The Greek drama continues. We're at their mercy. All you can do is react. Bottom line - are they ready to stare down the consequences of a grexit or default (like an actual non-funded default). If so, game on. If not, SSDD. So we sit back and wait.

On to the lie - 

Sorry for the lack of a chartbook this morning. Having some billing issues with Stockcharts (this happens at least once a year it seems). Unfortunately they are not as responsive as one would like to deal with customer issues. I'll have the charts back up as soon as that gets cleared up. I apologize for the inconvenience. 

Bottom line is all the support  - the dma's and diagonals. Price is set to fall back to that 2083 support zone. Surprisingly they could not maintain the ramp to new ATH. This "struggle" is new to the Fed. The game is changing up here in the rarefied air above 2000 feet. 

Freedom watch - 

Nothing in this world says, "I trust my federal government more than ever" than - Writing's On The Wall: Texas Pulls $1 Billion In Gold From NY Fed, Makes It "Non-Confiscatable"
Now if TX is doing this, then how are you feeling about your finances behind the "gates"?

More come below.

Have a good week. 

GL and GB!

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