Monday, July 17, 2017

Morning Charts 07/17/2017 SPX /es

A market you can believe in! There Has Been Just One Buyer Of Stocks Since The Financial Crisis

Add another to the LONG list of HRC fatalities - Haiti Official Who Exposed The Clinton Foundation Is Found Dead

On to the lie -

SPX Daily - As noted, if price rose quickly enough the negative divergences would worsen. Now, we all know this means little in the new era of Total Control, but the are still very strong negative technical signals building and in place. 50 dma is key support. Nothing happens without a major news event. IMO they are building as much cushion as possible before the big one. Never forget the possibility of QE4.

SPX 30m - Rising channel still working. The IHnS call to 66 should hit target after the open this morning. 40 backtest should be in the cards, and I'd look for internals to disagree with any rise this morning and begin to signal some sort of exhaustion soon.

More to come below.

Have a good day.

GL and GB!

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