Wednesday, May 4, 2016

Morning Charts 05/04/2016 SPX /es

Nothing up here this AM - go read ZH and embrace the suck if you like.
On to the lie -

SPX 60m - An STB friendly PSA to remind you what lies below (or does not) - Thus they try hard to protect 64. Looks like they may lose it today. At the close yd I said it looked weak and they'd need to pop it this AM. Well, they did not pop, but they have temporarily stopped the tumble. 

SPX 30m - The rollover we've been discussing continues (and actually improves). Shoulda mentioned this yd when I was thinking about it, but they usually form a falling megaphone at a top that breaks down a few times - let's watch for that to form. They are gonna plow thru all sorts of support at the open this morning. Typical it takes a gap to break thru such a point and will leave everyone wondering in the future about filling said gap at such a critical point on the map. 

Freedom watch -

Trump - so there is actually good news to report down here - that's a rarity.

More to come below.

Have a good day. GL and GB!

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