Morning Post 09/23/11, SPX

Let's do a post for the indexes and keep the comments here today. the last post was a bit large to manage, but it is very important loaded with some great data.

SPX Daily - 1120 is KEY. Not much else needs to be said. At lower end of most recent range. If that goes so does everything else.

Afternoon Delight 09/22/11

Don't forget to vote in the new poll to the right  ========>

Nothing good is happening right now. As STB has speculated "they" are in trouble and their hands are tied till they can get some room with the next debt ceiling vote and get the budget issues straightened out (like...who needs a budget anyway as they approach 900 consecutive days without one).

As I was speculating back in June (when STB called for July to have the potential to be one of the worst months ever - It topped July 7th) financial blackmail is happening via market levels as "they" will tank the market to force congress into a more accommodating debt ceiling raise. This is all political.

I love it when the stars align with my prognostications.

Morning Post 09/20/11, SPX, AAPL

Well, Looks like my warnings Friday about the market 's reaction prior to the FOMC data tomorrow (it was dangerous to short even though Friday 's close was a very tempting set up) was spot on. How can you short into the Fed with their constant risk on positioning and eternal promise of QE? It is insanity.

All eyes everywhere. The EU is in deep shit. No denying that. The biggest news was not the S&P downgrade of Italy and the Euro. Nor was it China's backstabbing of the EU. It was Siemens dumping their French bank and depositing funds directly with the ECB. After all of that one would likely conclude easily a 250 point down DOW day - nope.

If any of you understand this welfare video, please explain it to me. I swipe my EBT. Yes, America is reduced to this, free junk food. Hey, whatever makes the system work and supports corporations - it's allll goooood.

Sunday Evening Post

OK, here is the deal with the comments being closed on Friday's post - in order to avoid late spam (after the fact, many days after a post is up, some less desirable individuals will sneak in and post unscrupulous links that I/we do not desire), I have the comments set to "close" after 48 hours. I set that a bit tight and have moved that to three days to accommodate the weekend post.

I should be around a bit tonight as I update some charts ( I have done a bunch already) and check the futures.

SPX and the FOMC Meeting chart -

STB Morning Post 09/16/11, SPX

It's Friday! Lawdy it has been one heck of a week for the bulltards. I have no idea if this opex, bailout, manipulated BS run is over or not. I do know that the domestic economy is worsening and that the EU (and MENA) are in shambles. All this will end in some sort of horrific scenario. Till then we operate on hopium and playing the game of extend and pretend.

STB has been walking you thru the progression of the short term charts diverging and looking to turn. What STB has been pointing to is that the 30, 60 and daily charts were not near ready to go yet. The markets confirmed this. STB has tried to walk you thru the progression of timing, and how to appropriately work the turns (my way, more conservatively trying to find higher probability using divergences).

Now we have the 30m chart most likely confirming some sort of corrective here. This works well with the market ending opex here and the EU liquidity high about to wear off a bit. That said, this is a news driven market and it does not take much to get a violent immediate reaction in either direction. Speaking of news events, next week is the FOMC meeting. The hope of a QE announcement (a bit late for the now defunct Goldman's Alpha team) may be enough to maintain elevation.

FOMC Meeting Chart - See the previous reactions to FPMC meetings below.