Monday, February 29, 2016

Morning Charts 02/29/2016 SPX /es

This is a good place to start - The G-20 Meeting Was A Big Disappointment: What Happens Next - So, as usual, we wait on news and speculation of news - 

"In other words, the next big move in the market is now entirely in Mario Draghi's hands."

On to the lie - 

SPX 5m - Well, Friday I got my pop and poop thought right. Now with the futures down it appears the breakdown of the blue wedge and the possible crack of 1945 support below is what's happening. I spoke how a move to backtest the 1920 area and the lower larger wedge support would work to please both crowds here, so let's A) see if that plays out and B) what happens at larger wedge support (seen below).

SPX 15m - The small red wedge below is the large blue wedge above. What I wanted as 1920 support is about 1927 now. Anything sub 27 is bad and sub 20 opens all sorts of nightmare scenarios.

Freedom watch - 

Your Smartphone Knows Who You Are and What You're Doing

More to come below. 

Have a good week. 

GL and GB!

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