Wednesday, October 14, 2015

Morning Charts 10/14/2015 SPX /es

Maybe this should be the headline today? Dennis Gartman Turns Bearish.  I don't know, I'm not as high on the DG anti-barometer as some of you. Just thought I'd frontrun the news in the commentary. I guess earnings and China dominate headlines today. Nothing earth shattering. QE or rate news is about all that matters anymore.

On to the lie - 

SPX 30m - All sorts of stuff happening here and not happening as well. Double top resistance at the upper end of a lower large consolidation area with some harsh ST negative divergences following a double overthrow of prior negative divergences. All of this could mean absolutely nothing (as it has in the past), as the Fed remains in full control no matter what. Until the STB "event" the markets will only do what they want. If I were a sadistic bastard working for the Fed, I'd be looking to set up a bunch of shorts for slaughter, so be careful with any reversals here. The blood of shorts is what they love to feed on. Round levels should be the main protection areas. 

I'll put up some shorter term charts below with targets.

Freedom watch - 

Congressional Review Of Copyright Law May Threaten Drudge Report This would change the internet, free speech, information sharing/exchange forever basically neutering sites like Drudge (and STB). We're about to be cut off from the world, and government control of media is just around the corner. 

Just saying - "President Barack Obama’s top homeland security official has ordered a review of the nation’s terrorism alert system to reflect what he called the growing threat of attacks originating within the United States."
Not sure how they say Hildabeast won the debate (which I did not watch) when Drudge has the people voting her in 3rd place with 8% to Sanders winning with 25%. Now, if you are gonna say that's a bunch of conservatives voting, remember they just placed a socialist well ahead of a crook. 

More to come below. 

Have a good day. 

GL and GB!

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