Monday, May 2, 2016

Morning Charts 05/02/2016 SPX /es

Man this never gets old (/sarc). Bad = Good or Worst = Best, I mean how hard is it to spot what's gonna make the market move up? Slew Of Negative News, Defaults And Failed Mergers Push Futures In The Green.

This is a good one - for those in conspiracy denial that insist on living in a cave pretending all is well - Deutsche Bank Has Systemic Money Laundering, Terrorist Financing And Sanctions Problems: UK Regulator. Of course nothing will come of this as the TBTF roll along covered in Teflon.

On to the lie -

Worth a look, OK post, still obviously believes technicals and fundamentals matter - Still Looks Like A Trap. Looks can be very deceiving, and in this case never forget who owns this market and why they have it propped up. 

SPX Daily - Well, they closed it above 64 Friday and are fighting to keep that level this morning. Sub 64 and the door is wide open down to 1990. They don't want that, so expect them to fight here. 

SPX Weekly - Well, I got the drop n pop to set the neg divs or at least set some sort of technical top on the daily - now we could really use the same for the weekly. Not necessary, but preferred. This is a tough thought at this point where a technical top has every right being in place (Blue wedge competed, broken down, daily neg divs, top down resistance diagonals, OB as hell). I'm basically thinking there is a possibility the Fed and the PTB fights here or maybe even down to 1990 and possibly drives price close to or to a new ATH. One last trap for the bulltards (plus "they" are not ready for collapse quite yet)would be fitting - if this whole run is not one massive trap.


Freedom watch -

We all saw this one coming - Schwab Is Forcing Cash Out Of Money Market Funds And Into Treasuries.

More to come below.

Have a good week.

GL and GB!

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