Monday, August 5, 2019

Morning Charts 08/05/2019 SPX

When the PPT is having issues - is there a word to describe the dysfunction that requires?

CHINA!!! The boogeyman is back in the news.

Trump considering or at least mentioning some sort of additional gun control? That’s not going to go over well with his base. IMO if everyone was armed, these attacks stop its obvious tat gun free zones are the worst possible place to be.

The dumpster fire that is the US may finally be spreading to larger structures.

On to the lie -

Futures look pretty darn bleak.

Looks like we’re ready to test the next set of round numbers. That was a quick trip from the last set which offered absolutely zero support. There are at least a few other price points for support near this set of round numbers we didn’t have last time for additional support. A few, only a few.

So back to that PPT chaos article above, and back to my theory that about their only avenue left to go after Trump is taking out the markets..... since nothing is real, anything is possible. If/when this breaks 2800 and 2750 are two short quick steps away.

Might be time for me to throw in the towel and call THE top, but my only concern is the rally after Trump wins in 2020. I’m thinking this has potential to get nasty now. Trump rallies the markets one last time after election, but maybe after 2022 the real problems start. Lame duck Trump is gonna be an amazing time to be alive.

More to come below.

Have a good day.

GL and GB!

No comments:

Post a Comment

Keep it civil and respectful to others.