Morning Charts 07/15/2016 SPX /es

I get what the picture says, but don't believe everything you see - BofA: "Monday Is When The Bears Capitulated", Now Stampeding Into Equities. I'd say the smart money knew to get out of the pool of sharks swimming in rumors or moar helo money. I would not say the bears capitulated anything. We're no longer the Pooh bears, becoming more Yogi bear.

On to the lie -

Doubt I'll buy anything new short today unless something deteriorates. Worried about "events" at coming convention. Soros is about to really shake things up I think. Technically price is ready to turn, but we've been here before. Caution is emphasized if you're looking to jump in the pool that's constantly having moar liquidity added to it. 

SPX 10m - On second thought, I may have to take a stab at a short this morning - I'll let you know if I do anything. That wedge is amazing.

Freedom watch -

Right up there with the bizzare/questionable polling numbers reported yesterday - If you think The Department of Truth is bad under Obummer, just wait till the Hildabeast is in charge. Caught On Tape - CNN Reporter Cut Off Air As She Critiques Hillary Clinton



Constitution today -

Amendment X

The powers not delegated to the United States by the Constitution, nor prohibited by it to the states, are reserved to the states respectively, or to the people.

"The Tenth Amendment helps to define the concept of federalism, the relationship between Federal and state governments. As Federal activity has increased, so too has the problem of reconciling state and national interests as they apply to the Federal powers to tax, to police, and to regulations such as wage and hour laws, disclosure of personal information in recordkeeping systems, and laws related to strip-mining."

More to come below.

Have a good weekend. 

GL and GB!