OK, first review this video and then we'll review this blog's presiding theme for at least the past year.
Bob Janjuah Dismisses Central Bank Independence Amid Monetary Anarchy | ZeroHedge
I have no clue about the 1500 talk, but with this centrally planned and wholly manipulated market you can not discount the possibility especially with the market being all there is left between the government and total anarchy in this nation and in an election year.
For more than a year STB has been on the crash to get QE3 (and another short squeeze) call. Recently I have been looking for the standard 15 to 20% corrective when Twist ends and that will be followed by screams and demands for QE3 or some sort of intervention to raise the markets into the elections regardless the consequences. Bob discusses 1300 and mid 1200's which have been mentioned here very often recently with my possible low of 1170. I get tickled when the experts come to where I have been for some time.
Daily SPX - See Bob's 1300 and mid 1200 (1260 to be exact) targets on the chart? You can then move to 1220 and then my 1170 target as well.
Showing posts with label disaster stock market technical analysis. Show all posts
Showing posts with label disaster stock market technical analysis. Show all posts
Wednesday, April 18, 2012
Wednesday, January 11, 2012
Morning Post 01/11/12 (SPX) - Chartapalooza
A storm is a brewin and it is just offshore.
Incredible! The futures are actually red! I was not sure that was legal anymore, but when you are the law I guess you can do anything right? One can only assume is that the Fed is ready to let things breathe a little bit. Don't get too excited bears, the /es is still in its channel off the mid-December lows. When that support cracks, then you can begin to look for a correction that will have some merit.
Yesterday morning I tweeted /es 30m Yellow channel up - 1277 support - higher high - all the makings of a blow off top IMHO. #Surreal pic.twitter.com/eXP2ptbU. So far so good. Here is a good look at the /es 60m chart and recent channel support. The blow off top can now be seen in the rise in RSI above the negative divergence. The double divergence in MACD is a killer. All that aside, none of it matters if the yellow support diagonal does not falter.
Incredible! The futures are actually red! I was not sure that was legal anymore, but when you are the law I guess you can do anything right? One can only assume is that the Fed is ready to let things breathe a little bit. Don't get too excited bears, the /es is still in its channel off the mid-December lows. When that support cracks, then you can begin to look for a correction that will have some merit.
Yesterday morning I tweeted /es 30m Yellow channel up - 1277 support - higher high - all the makings of a blow off top IMHO. #Surreal pic.twitter.com/eXP2ptbU. So far so good. Here is a good look at the /es 60m chart and recent channel support. The blow off top can now be seen in the rise in RSI above the negative divergence. The double divergence in MACD is a killer. All that aside, none of it matters if the yellow support diagonal does not falter.
Subscribe to:
Posts (Atom)