Well, yesterday was wasted, and today will not be much better. I go for my stone blasting this morning. By the time the market opens I hope to be out and recovering at home. No guarantees, but I'm first on the docket at 7:30. I'll be on travel computer when I get home. I hope to be in the office later, but really not sure what to expect. I did not get to purchase a new work computer yesterday. I tried, but due to pre-op timing this will have to happen tomorrow or Wednesday. Of course SC does not have my chartbook up yet. Told you this would be an issue. Their service is terrible.
FOMC notes, Jackson Hole, Labor day, Halloween - (complete holiday list - LOL) any excuse possible to keep the HFT algos in line as they co-locate. We are close enough to start Labor Day ramp - Just look back at the 4th. I will have to check the technical setup to see if it will be as devastating as it was in July.
No news is good news, and #Ferguson has everyone distracted .Idiots I talk to are brainwashed by ATH. Questions I get on the street are totally ignorant and void of anything that could be construed as negative. A good example are the AFL fans here in Columbus (where AFL is HQ'd). Do they know about Japan's debt/gdp? No. Yen/USD issues? No. Fukushima issues? Nope. (think cancer insurance risk!) A plethora of other issues such as aging population, savings, trade deficits, qe4eva? Nope. Those issues cover Japan where 70% of their business is done and and enormous amount of cash sits in Yen not being repatriated. Shall we address the issues with supplemental (ie- you pay xtra) insurance in this economy? Paying more for insurance .... hmmmm that will go over really well with Ocare kicking in. Fantasyland folks, just keep those blinders on.
It appears we're now in the final sentiment stage. Not that long ago fear was the dominant tone. Now we are in that blow off bulltrap phase that gigs 'em all every time. Be my guest. The sooner the better. Looks to me that the STB bill/bear line has been dusted and that only means one thing - ATH baby. Barring an enormous news bite in the next two weeks this train should only go in one direction. There should be a really nasty double top divergence if we get there. Blown thru several of those haven't we. Enough to where I'm now numb to the setup.
I'll get my chartbook back sooner than later I hope. I miss it and I know a bunch of you do as well.
I'll get on as soon as I can in the morning to give updates on the procedure. Till then, thanks for being here and holding down the fort.
Almost forgot - My BP went thru the roof at pre-op yesterday when they started discussing the cost of my procedure - ready for this - what will be billed by the hospital in order to get a realistic settlement to cover cost? Ready for this? For me to have my stone blasted in an ESWL will cost $33,000. My BP went to 155 over something, not for the cost, but for facing the reality of how fucked up the system is. $33k. $33 friggin K. I was floored. I have read and heard stories, but experiencing it first hand was completely overwhelming.
More to come below.
Have a good day.
GL and GB!
Tuesday, August 19, 2014
Monday, August 18, 2014
Morning Charts 08/22814 SPX /es
Not much has changed from last week. So, I'll leave it at that. OBTW, not surprising that Stockcharts has not restored my chartlist yet. The work computer is dead and will be replaced today I'm guessing.
That's about all I got.
More to come below (cause there was certainly not much up here).
Have a good week.
GL and GB!
That's about all I got.
More to come below (cause there was certainly not much up here).
Have a good week.
GL and GB!
Friday, August 15, 2014
Open Weekend Post 08/16-17/2014
You know the drill, share the love and the knowledge.
If you see it post it. I will as well.
I plan on having my SC account back soon and will update what's needed.
Have a good weekend.
GL and GB!
If you see it post it. I will as well.
I plan on having my SC account back soon and will update what's needed.
Have a good weekend.
GL and GB!
Morning Charts 08/15/2014 SPX /es
Early post
SC still has not given me my chartbook back. Go figure.
Not much to say and have to take LS2 to ortho apt (broke something at football yesterday) this morning, so I'm not sure what you will get or when I'll be in this morning.
Minis took the rising wedge (possible bear flag) and overthrew it late yesterday after a rather dull super low volume day. Not sure what caused the late ramp, but that 1949-53 resistance area and the 61% retracement were proving their metal all day. Price has entered my bull/bear line zone. Now almost 70 points off the last low at critical support (who'd a thunk it), so far it looks like the Fed is on track and has dodged another bullet while not allowing a meaningful retracement. We'll have to see about that. Right now it looks like mr. market may want to say something about that. We'll see.
More to come below.
Have a good weekend.
GL and GB!
SC still has not given me my chartbook back. Go figure.
Not much to say and have to take LS2 to ortho apt (broke something at football yesterday) this morning, so I'm not sure what you will get or when I'll be in this morning.
Minis took the rising wedge (possible bear flag) and overthrew it late yesterday after a rather dull super low volume day. Not sure what caused the late ramp, but that 1949-53 resistance area and the 61% retracement were proving their metal all day. Price has entered my bull/bear line zone. Now almost 70 points off the last low at critical support (who'd a thunk it), so far it looks like the Fed is on track and has dodged another bullet while not allowing a meaningful retracement. We'll have to see about that. Right now it looks like mr. market may want to say something about that. We'll see.
More to come below.
Have a good weekend.
GL and GB!
Thursday, August 14, 2014
Morning Charts 08/14/14 SPX /es
I know, I know, my charts are missing. Short version of a long story, I temporarily lost my wallet early last week and cancelled CCs in it before we left town. My SC account was up for renewal and in the process of charging/un-charging my membership with SC (that Visa screwed up royally), I am now not an active member of SC as of yesterday evening. I am working to get this cleared up and my account back. I hoped to have this done by this morning, but now I'm not sure how long this will take. SC has a horrific track record at servicing my needs in the past, and I don't expect this 6 year HoF sub to get any special treatment.
Continuing with a recent theme STB has been on - Hammering Obama: Hillary has only begun - it's fixing to be a long cold two lame duck years in the white house. O and Biden are gonna wish global warming were real, cause that's about the only warmth they will find going forward (and we all now know that global warming is a myth by now, right?).
Yes, it appears everyone, even the press is ready to move on from this loser. Rift grows between Obama, media as press groups blast administration ‘spin’ - ya think O's version of Baghdad Bob Carney knew when the time to jump ship was right? After years of lies and abuse, he's about to get what's coming to him.
Unless - God I hate this part - unless, he's truly the tyrannical psychopath we all
I guess when you report on police business and get to close to something you are reminded where you stand as a human being - excuse me - I mean a sheeple. Ferguson is turning out to be quite the display for how we are to be treated if we are to get out of line. Read Militarized cops on display in Ferguson riots. So the used military equipment is not only going to the terrorists in the Middle East, but to the
What this psycho is capable of is terrifying, and when he comes under the immense pressure of protecting his 'legacy' or trying to make one or whatever - who knows what's going to happen? Right now he's done more harm than good. It's truly scary to think of how much more damage he can do in these last two tumultuous years ahead.
And your stat of the day - Obama’s one achievement — outgolfing Tiger Woods
"As Barack “Eldrick” Obama approaches his 200th round of golf since his election as president, here’s a fact to put that into perspective: Since January 2009, Tiger Woods has played 269 rounds of golf.
And Tiger, beleaguered by injury, is almost certainly done for the year. So that means the president, if he keeps up with his pace of play during his 15-day vacation in Martha’s Vineyard (a round a day) and his normal weekly round, will pass Tiger sometime next spring.
Think about that for a minute. The president of the U.S., juggling the American economy and the entire world’s problems — Iraq is in full meltdown, the Middle East is a powder keg, Russia is moving on Ukraine — has played golf nearly as much as a guy whose day job is playing golf."
Maybe it is best if he just stays on the golf course. Sadly that's not going to happen. Obozo is making a surprise return to the white house from vacation this weekend. WTF could he be coming back to screw up now? Please O, stay. No need to come back anytime soon. You just hang out there, tick off all the local golfers and soak in the social scene. We're doing just fine without you.
On to the lie -
Markets know all this turmoil is coming surrounding our leadership - leadership that has been proven to be more than substandard (and that's being kind). Markets know that we have two more years of this to deal with. If a presidential election were to be held this year I believe we'd be awash with a new 'hope' and that any sort of 'change' would be gleefully welcomed by all including the markets at this level. Sadly that is not the case.
It is no secret that the globe is in meltdown mode and we're not the global leader we used to be. Apparently bombs and bullets no longer intimidate, they irritate. Apparently everyone else now wants a piece of our pie and they are not asking for permission, they are taking it. That is not how things are supposed to work. Empires come and go, and our time is just about up. The markets know this.
I've been discussing nervous markets since before the 4th. I got the fall I was looking for, now what? Price fell to critical support and is now struggling to rebound. That is if you call the minis 60 points up off the lows struggling (it feels that way). The minis have entered my bull/bear resistance zone and 1953 will be the first resistance test. The Fed does not have it as easy these days at lifting price as they used to.
News. What's the only thing that's stopped the Fed? News. Who wants total control over the MSM? Are you starting to put two and two together? Let the lies perpetuate, keep the sheeple in the dark. One day it all goes POOF, we all sit around and wonder why and next thing we know militarized police are everywhere as they implement capital controls for the "good of the country".
Wake up folks. Things are bout to get nasty.
Watch this area around 1953 on the minis. Cash resistance area started as well. Cash resistance area runs up to 1964, Without any turmoil they should be able to manage at least a double top, but one bad news bite and this lie is set to fall at the speed of gravity (impossible I know - just like a previous lie).
More to come below.
Have a good day.
GL and GB.
Wednesday, August 13, 2014
Morning Charts 08/13/14 SPX /es
How bout this - Just The Right Amount Of Bad Overnight News To Ramp Global Equities LooooL, here we go again. Bad = Good v 2.0. Lord let's hope not. The BS train was tough enough to deal with the first three years. Please, let's not go there again. I so thought we may be beyond this. Apparently the Fed has some moar hanging on to do. Someone should tell Yellen and Obummer desperation is not a quality that one wants to flaunt.
Not much else to say this morning or that I want to elaborate on. The world continues its downward spiral. So many things falling apart I can't even list them in a simple post anymore. It's hard to even pick what's the hottest issue. At least these days it is not as hard to spot the lies and propaganda.
I do reassert my belief that the market is very nervous and rightfully so. Overbought, liquidity driven, hot air filled markets do not like lame duck potus, coming elections, failed foreign policy, failed domestic policy, unsustainable debt and the lot. Shall we discuss the coming destruction of the dollar? Oil, gold, interest rate manipulation? It's a complete mess and mr. market senses this and is finally starting to assert some semblance of reality. By no means does this mean the Fed is through with their games, it does mean they will struggle to achieve their desired results like never before.
On to the lie -
Daily SPX - That 20/50 bear cross is not a good thing with price coming off critical support and backtesting prior support. Near tern oversold she was and still is to a degree, but long term she's still in outer orbit as far as being overbought. One 'event', one slip here and they all know the algos are gonna go nuts. Man I bet this is some tense times at the control center. Good thing everyone is on vacation!
No form yet and the BTFD ramp stalled. I'm curious to see what the bears can muster here and what the Fed and the TBTF will counter with. This is another potential really good short point. I'm simply gonna watch and digest what's going on at this time. Any momo south and that 200 dma comes into play which busts all meaningful support and I'm sure kicks in some sell stop action. Any momo north here and the squeeze will be on again. On cash up to 1964ish and the bears still have the ball IMO.
More to come below.
Have a good day.
GL and GB!
Not much else to say this morning or that I want to elaborate on. The world continues its downward spiral. So many things falling apart I can't even list them in a simple post anymore. It's hard to even pick what's the hottest issue. At least these days it is not as hard to spot the lies and propaganda.
I do reassert my belief that the market is very nervous and rightfully so. Overbought, liquidity driven, hot air filled markets do not like lame duck potus, coming elections, failed foreign policy, failed domestic policy, unsustainable debt and the lot. Shall we discuss the coming destruction of the dollar? Oil, gold, interest rate manipulation? It's a complete mess and mr. market senses this and is finally starting to assert some semblance of reality. By no means does this mean the Fed is through with their games, it does mean they will struggle to achieve their desired results like never before.
On to the lie -
Daily SPX - That 20/50 bear cross is not a good thing with price coming off critical support and backtesting prior support. Near tern oversold she was and still is to a degree, but long term she's still in outer orbit as far as being overbought. One 'event', one slip here and they all know the algos are gonna go nuts. Man I bet this is some tense times at the control center. Good thing everyone is on vacation!
No form yet and the BTFD ramp stalled. I'm curious to see what the bears can muster here and what the Fed and the TBTF will counter with. This is another potential really good short point. I'm simply gonna watch and digest what's going on at this time. Any momo south and that 200 dma comes into play which busts all meaningful support and I'm sure kicks in some sell stop action. Any momo north here and the squeeze will be on again. On cash up to 1964ish and the bears still have the ball IMO.
More to come below.
Have a good day.
GL and GB!
Tuesday, August 12, 2014
Morning Charts 08/12/14 SPX /es
Maybe the best development since Pelosi had her meltdown is this Obummer/Hildabeast spat. Isn't it only appropriate that after all the fuckups over the past 6 years (that can not be blamed on Bush) it comes down to internal party bickering and one huge pissing match. We're finally seeing the true colors of the Obummer/Clinton love fest.
In Exclusive: Obama Told Lawmakers Criticism of His Syria Policy is 'Horsesh*t' the ballless wonder finally stands up to ... something? Right or wrong, good or bad target, political lines or not - he finally stands up. Of course everyone is wrong and lying, but that does not matter. The meltdown is priceless. The loss of composure and not eating crow for the democrap party is surprising. The division and coming meltdown is long overdue.
Clinton sees the light and is going to distance herself as far as she can from the lame duck, and guess what - all those that want to be in her good graces are about to abandon O as well. We're getting ready to see a party split wider than the Grand Canyon. You are about to see a president completely and utterly abandoned.Hildabeast will start collecting her stooges - what will Pelosi and Reid do at this point? Do their allegiances start to change? This is going to get good.
O's not gonna have a leg to stand on. The Clinton's are putting the gloves on and going for an early knockout. He's not even a two legged stool - maybe one leg at best. He's about to get roasted. How he fires back is the big question - that may be the scariest part. How deep can he go into rhetoric to defend himself without exposing both of their crimes (think especially Benghazi and ISIS). This destroys everything (which would only be just and right). He's screwed and about to be made irrelevant (if that is even more possible).
Race card? He can't even use that. He's screwed everyone. His puppetness has done his masters bidding and done his best to destroy this country. What happened to hope and change? Well hope went out the window (especially for his low income supporters) and change - one would think Bush/Cheyney are still in office but worse.
Things are about to get interesting me thinks. Captain transparency that became a known liar and vacation/golf addict is about to be served up with a well deserved side of reality.
On to the lie -
SPX Daily - Well the February sell off made it 100 SPX points, I guess 80 points will have to do this round. Pretty pathetic to call that a correction or even categorize it as some sort of downside move. They could not allow even 1/2 of a percent. And think of the fear that puny little move generated.
What's interesting is this backtest of the black busted support diagonal (this is the equivalent to my Red Diagonal of Death on the minis). If the bears can hold 'em here something real may go down. I'm not holding my breath, just saying we now live in a world and play in a market that has the real possibility of going POOF! at any moment.We have to check these backtests like it or not.
Despite the lack of positive divergences they turned it (so far) without any necessary assistance. My MACH histogram signal (first day following up day reversal) worked nicely. Put this one in your memory banks. It is not fool proof but has worked with a high degree of accuracy over the years.
SPX 60m - Double positive divergences worked well for Bully's cause here. I think the bears have the ball still, at least to 1965. The 58 to 65 area may be the next battleground. For them to push it over that upper black resistance diagonal again would really be something. The 60m chart is already showing overbought to some degree. No form can be detected yet in this up move. If anything at this time a bear flag may be forming. Bully would have liked to see a base channel form but did not get it.
What's the Fed got left in the tank? Are they ready to throw in the towel, or do they have morework theft to be done?
More to come below.
Have a good day.
G: and GB!
In Exclusive: Obama Told Lawmakers Criticism of His Syria Policy is 'Horsesh*t' the ballless wonder finally stands up to ... something? Right or wrong, good or bad target, political lines or not - he finally stands up. Of course everyone is wrong and lying, but that does not matter. The meltdown is priceless. The loss of composure and not eating crow for the democrap party is surprising. The division and coming meltdown is long overdue.
Clinton sees the light and is going to distance herself as far as she can from the lame duck, and guess what - all those that want to be in her good graces are about to abandon O as well. We're getting ready to see a party split wider than the Grand Canyon. You are about to see a president completely and utterly abandoned.Hildabeast will start collecting her stooges - what will Pelosi and Reid do at this point? Do their allegiances start to change? This is going to get good.
O's not gonna have a leg to stand on. The Clinton's are putting the gloves on and going for an early knockout. He's not even a two legged stool - maybe one leg at best. He's about to get roasted. How he fires back is the big question - that may be the scariest part. How deep can he go into rhetoric to defend himself without exposing both of their crimes (think especially Benghazi and ISIS). This destroys everything (which would only be just and right). He's screwed and about to be made irrelevant (if that is even more possible).
Race card? He can't even use that. He's screwed everyone. His puppetness has done his masters bidding and done his best to destroy this country. What happened to hope and change? Well hope went out the window (especially for his low income supporters) and change - one would think Bush/Cheyney are still in office but worse.
Things are about to get interesting me thinks. Captain transparency that became a known liar and vacation/golf addict is about to be served up with a well deserved side of reality.
On to the lie -
SPX Daily - Well the February sell off made it 100 SPX points, I guess 80 points will have to do this round. Pretty pathetic to call that a correction or even categorize it as some sort of downside move. They could not allow even 1/2 of a percent. And think of the fear that puny little move generated.
What's interesting is this backtest of the black busted support diagonal (this is the equivalent to my Red Diagonal of Death on the minis). If the bears can hold 'em here something real may go down. I'm not holding my breath, just saying we now live in a world and play in a market that has the real possibility of going POOF! at any moment.We have to check these backtests like it or not.
Despite the lack of positive divergences they turned it (so far) without any necessary assistance. My MACH histogram signal (first day following up day reversal) worked nicely. Put this one in your memory banks. It is not fool proof but has worked with a high degree of accuracy over the years.
SPX 60m - Double positive divergences worked well for Bully's cause here. I think the bears have the ball still, at least to 1965. The 58 to 65 area may be the next battleground. For them to push it over that upper black resistance diagonal again would really be something. The 60m chart is already showing overbought to some degree. No form can be detected yet in this up move. If anything at this time a bear flag may be forming. Bully would have liked to see a base channel form but did not get it.
What's the Fed got left in the tank? Are they ready to throw in the towel, or do they have more
More to come below.
Have a good day.
G: and GB!
Monday, August 11, 2014
Morning Charts 08/11/14 SPX /es
Obummer is on vacation - again - Something tells me he will still screw something up while away. Till then, his absence (and that of Congress) may be a positive for markets. Why not, the two most unpopular aspects of the country are out of the picture at least for a bit. Global tensions still on high, but MSM doing a fantastic job minimizing (or disappearing) as many negatives as possible.
Daily SPX - Like I said the MACD Histogram had not turned positive till Friday - this is one of my favorite early turn signals. That with multiple other oversold indicators may provide at least a near term boost for equities. Danger still exists, but right now it appears tehy will take up the slack at this critical support point and do their best to march 'forward'.
More to come below.
Have a good week.
GL and GB!
Daily SPX - Like I said the MACD Histogram had not turned positive till Friday - this is one of my favorite early turn signals. That with multiple other oversold indicators may provide at least a near term boost for equities. Danger still exists, but right now it appears tehy will take up the slack at this critical support point and do their best to march 'forward'.
More to come below.
Have a good week.
GL and GB!
Subscribe to:
Posts (Atom)