Here’s what’s scary about the hourly chart of the ES- the S&P fucutures. The 5 day cycle has been in a down phase since the Wednesday-Thursday overnight session. The December 9 high is cleared, and short term resistance seems set at 3717. If they go through that, this thing could go explosively higher.
I watched the dog and pony show yesterday.
Disgraceful dissembling.
Most of the questions and answers were, for our purposes, irrelevant and immaterial. They indicated just how little the Wall Street media subsidiary is interested in getti…
The euro now costs $1.22 USD. I have now suffered 13% inflation in the 13 months that I have been in Europe.
Since the US still imports stuff from the ROW, I’d imagine we’re going to start seeing some of the impact of the horseshit weak dollar on…
It’s Fed QE MBS settlement week. You can’t keep a market down for long when those billions and billions get pumped into dealer accounts.
At 6:50 AM in New York, the 2-3 day cycle projection looks 3700. No 5 day cycle projection yet. The uptrend channel line is currently at 3676, moving to around 3685 at the NY open and 3690 at noon. Bears’ task will be to break that. Otherwise, todamoon.
Here in Europe when the business day started around 8 AM (2 AM NY) somebody dropped a big turd. The ES fell through support to the next support area around 3640. That’s the bottom of the current effective downtrend channel.
It took me by surprise, I must say, when I found out yesterday, oh yeah, I heard it through the grapevine, that the market hit a landmine.
It’s an 80s dance party. Let’s get high and dance!
I can’t wait to see the up.
Will today be another Day of Infamy in the market. When Europe opened, it walked away from Friday’s gains in New York and went right back to where it left off trading the ES fucutures when Europe’s trading day ended. Apparently, they don’t think too mu…