Friday, June 9, 2017

Morning Charts 06/09/2017 SPX /es

The things that ATH's are made of - "Worst Since Lehman" - The State Of The US Consumer In One Dismal Chart and Credit Card Defaults Surge Most Since Financial Crisis  Solid as a rock is the foundation for this ATH and run off the 667 low - NOT!

On to the lie - 

SPX 5m - The range I wanted price to settle in is working out pretty good so far. Possible HnS setup here with pop this morning to have a chance to set RS top. Just a chance and remember that RS has been more of a launching pad than a bearish breakdown point. I think they'd be pleased to simply consolidate above 2428 for a while. IMO there is a lot of selling pressure the PTB are fighting.For any sort of meaningful correction something newsworthy has to drive it. Till then shorting is a dangerous game.

More to come below.

Have a good day.

GL and GB!

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