Morning Charts 08/17/2015 SPX /es

If I had to guess, I'd say markets will be held hostage to the FOMC minutes release Wednesday. Since the Fed controls all and everything else is meaningless contrived data, I assume the hoopla will all surround the minutes. China will be the next great distraction. The US economic situation will follow. Bottom line is without any surprises the market is set up for more consolidation as price clings onto support above the vast support less void crated buy the Bullard ramp (and QE1 - 4eva). I find the QE4 ramblings (for now) interesting. It is the last hope. It will come. When? Your guess is as good as mine, but it will come as risk on status slips from their centrally planned farce. 

You may want to read Doomsday clock for global market crash strikes one minute to midnight as central banks lose control. Just let your imagination run wild!


On to the lie - 

SPX Daily - 200dma and a couple other support points remain critical here. Death crosses, MA resistance, all sorts of bad stuff is going down. The round number to 76 should be the area to watch.

Freedom watch - 

I saw Straight out of Compton last night. Reviews nailed it with the first 2/3 good and last 1/3 slow as molasses. Glad the LS's got to see it as it portrays the plight and helps them understand the other side. My thought is, the NWA fuck the police movie of the century, being released right now, may not be the best timing.





More to come below. 

Have a good week. 

GL and GB!