Tuesday, May 24, 2016

Morning Charts 05/24/2016 SPX /es

And they somehow maintain control over price? Must be nice to be in total control - The Fed's Loss Of Credibility Is Real: This Is What It Looks Like

"Which raises the question, “why tighten now?” Inflation below target, but too many jobs being created seems an odd rationale after so many lean years.

With equities still hovering near all-time highs despite earnings being suspect, and global trade under attack, it’s hard to argue anything priced in.

What cost are they prepared to pay to give banks better net-interest-margins?"

On to the lie - 
SPX 15m - Well, last week I was all over consolidation and Black resistance and Blue support. Other than that brief moment of insanity when price dipped to 25, they are hanging in there not allowing price to fall as it should be. The pop this morning should keep price under Black resistance - can the bears keep it there is the question. 2064 s/r is tr really big number to watch to the upside. The large HnS is still in play and should not be discounted.

SPX Weekly - It's really clear what the Fed is fighting here as price consolidates above MA support and under critical Black resistance diagonal and 2064. They are fighting to stop the next leg down (and it would be a big one). So they went hawkish? At this point? Balsy! Funny, that big ass HnS everyone is looking at is that tiny little area making that top at resistance here. Looks a lot bigger elsewhere. That's OK you can see an even bigger one here - that's what scares the Fed.

Freedom watch - 

We're doomed. 

More to come below. 

Have a good day. 

GL and GB!

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