Morning charts 05/30/12 $SPX

Gonna make it simple again this morning since I am still a bit behind charting for the holiday. Let's rip thru some Zero Hedge headlines and see just how confusing everything is right now.

"10Y Treasury yields just broke to new all-time record low yields (marginally lower than the 9/23 1.6714% previous lows) and while the 'rates-can't-go-any-lower' crowd perhaps have not looked at JGBs recently (as in the last decade) in price terms, 10Y Treasury Futures have gained 4.6% since 3/20 swing lows while the S&P 500 has lost 6.0%. On the bright side, at least the front-end isn't inverted yet...yet." 10 Year Treasury Yield Breaks To New All-Time Low | ZeroHedge

Not sure how many years I have been showing you this chart, but it tells the story -

Morning Chartapalooza II - 05/09/12 #SPX $ES #Silver #EUR/USD #Dollar #AUD/JPY

Cause you all like the Chartapaloozas so much - here we go again. I told you for weeks everything was set up to explode/implode.


Minis - Triple bottom at 1342 or will there be worse? My call for 1341 wound up being pretty good. Now my caution at this level is proven warranted. At this time everything is pointing to 1260/70 area, and I'm not giving up on 1170 just yet.

Morning Post 01/18/12 (SPX)

Let's not mince words this morning and make this really simple - we're all fucked and if you don't know that and don't start preparing for the worst case scenario that's your fault. Quit listening to the lame stream media that wants you to buy into the hopium story. Good example - Liesman on CNBS this morning simply asking the question, "Do you believe the market will rise 30% on a Romney election?" Quit listening to the broker dealers and their advisers that count on you for generating fees to support their excessive undeserved salaries. It is all a bunch of shit.

Got that? You better. Tale it from the, "World Bank urges developing economies to “prepare for the worst” as it sees risk for European turmoil to turn into global financial crisis reminiscent of 2008". World Bank Cuts Economic Outlook, Says Europe Is In Recession, Warns Developing Economies To "Prepare For The Worst" | ZeroHedge. Did you read the AD last night? If not go back and read the opening section.

It is all about stimulus and how much money can be thrown at the problem. Folks, realize that we have been throwing money at this problem since 2008 and have done nothing to fix any of the issues. It is the banksters and Wall St. against you and me. The fraud and raping of the middle class wealth funneling everything to the financial institutions creating a new phenomena called debt serfdom. Quick note on the presidential candidates, Ron Paul is the only one that will stop this.

Let's do a full chart review like we did last week -

Daily SPX - Resistance diagonal (black) at resistance area (pink) with weakening underlying indicators.