Wednesday, June 29, 2016

Morning Charts 06/29/2016 SPX /es

Futures continue to rise. Remember Bad=Good? Well Brexit is bringing the hope of intervention right back along with false or imaginary data points. What a bunch of idiots. This can only last so long. They can only pump so much hopium up the backside of this market till it explodes. When it does it won't be pretty.  Time or when or how long can they keep the charade alive is the only mystery.

The charts in yesterday's post still work today - 2040ish and then 64 are apparently back in play. Still no real form but no lack of volatility. Overnight low volume ramps are back as well lifting when it is easiest. Reality has been rearing its ugly head though not allowing them to ramp or elevate with the ease they used to. Right now I'm leaning on this move up being a retracement or back test move. 1990 was defended. They can't let this market fail.

Have a good day.

GL and GB!

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