Tuesday, January 12, 2016

Morning Charts 01/12/2016 SPX /es

Wait, is this Groundhog Day? Minis hit an 18 handle and are back up 30? 

Well, at this point you have to start asking yourself - how long will it be till the Feds use terror attacks as a tool of intervention? Futures Jump After Oil Rebounds From 11 Year Low On Turkish Terrorist Attack. Well, would you put it past the most corrupt group whose every attempt at manipulation has failed, who is out of bullets, who must maintain control at all costs yet they've lost control?
FYI - "Unprecedented Demand" - US Mint Sells Nearly As Much Gold On First Day Of 2016 As All Of January 2015

On to the lie - 
  SPX Weekly - Simply pay close attention to the blue channel support all the way back to the 667 low. Now look at what price tagged yesterday. Now combine that with the 1990 support and the black wedge support (and the supportless area below that all the way down to 1575) and you will see why this is a must stick save area for team manipulation.  

Ya think they can let let multi-year support just fail?Ya think this is a MAJOR point of support? Ya think that if this point fails that a breakdown would simply end it all (sans QE4 of course)? Oh, and the resident idiot (not Cramer) is ready to short more

Now I highly suggest you take a look at the charts and analysis in this post. You all know I rarely refer you to other charts, so this must be that good. "Fasten Your Seatbelts" - UBS Warns Of "Record Spikes In Volatility" If This Level Breaks.  I really want you to see this chart. Even though it 'counts' it's got the only two scenarios that I've really been considering for the end of the market. We have either topped and the 2115 top was a '2' and the ultimate short point if you missed the 2134 top, or (via QE4) we get one last bull trap blast for their '5' and then it ends. 

Freedom watch -

Rand Paul Rages "The Fed Is Crippling America"

More to come below. 

Have a good day. 

GL and GB!

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