Wednesday, June 17, 2015

Morning Charts 06/17/2015 SPX /es

Greek drama - nothing more. About the only question I have is - if they have us focused here so intently, then what is happening in their 'other hand'. Misdirection is their best trick.

This about covers all the drama for today - Bank Of Greece Pleads For Deal, Says "Uncontrollable Crisis", "Soaring Inflation" Coming 

UK draws up contingency plan as Bank of Greece warns of 'uncontrollable crisis' - live updates

On to the lie - 

No charts again today. My stubornness is my burden. Principled to a pain you can say. I'll get the charts back, after I've at least tempted to make my point (again - that's the problem). Now we're deep into the customer service aspect of a 6 year HoF SC member - I want some respect. 

Patience grasshoppers. We're stuck in a wide range from 2115 down to 2072 on SPX and we won't leave that range. Markets are news driven and this week we'll get plenty with Greece dominating the headlines. If I had to guess, I'd say we're in for a scare that may take us possibly as low as 62, but that will only be to set up shorts for slaughter. That would be their SOP. If 62 cracks, then the story may have a twist and much more serious downside would be in order. Has the Fed lost control? That's a damn good question. 

Freedom watch - 
Obama Prepares More ‘Executive Actions’ On Global Warming

More to come below. 

Have a good day. 

GL and GB!

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