NASDAQ100 Hourly -

[Create Your Own Opinion – Technical Indicators Used – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Cycle Brackets, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

Not sure when these US Federal Reserve manipulated markets will end.  VIX continues to get pushed lower - they call this the "no fear factor".  If there's no fear, why are governments (oops, I mean central banks) trading markets with their debt?

Click on chart to enlarge NASDAQ100 Hourly – Nothing But Up In The Face Of Failing Quarterly Results – Yellenator Strikes Again

NASDAQ100 Daily -

[Create Your Own Opinion – Technical Indicators Used – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Cycle Brackets, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

Earnings season results so far are awful.  But because we have central banks who can buy up more stocks (indirectly of course) with no regard for profit (they just issue more currency), markets remain up.  McDonald's reports disgusting results and the market responded with an up move of 4%.  This is the rot that Yellen and other central banks have built.  When will this end?  When ten year yields rise well ahead of the two year yields.  We are looking at a close above 1.6 to make the markets start to fall hard.

Click on chart to enlarge NASDAQ100 Daily Reverses Up As Central Bankers Bid Failing Quarterly Results – Just Keeps Getting Worse

NASDAQ100 Hourly -

[Create Your Own Opinion – Technical Indicators Used – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Cycle Brackets, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

Another day of "90 percent of the day's move in the first twenty minutes" followed by six hours of a 3 point range.  Yes, those central bankers really know how to do their job.  One day, they may have a mandate for this job too.

Click on chart to enlarge NASDAQ100 Hourly Forms A Nice Yellen Backed Square Wave – More Of The Same Likely For Tomorrow

NASDAQ100 Daily -

[Create Your Own Opinion – Technical Indicators Used – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Cycle Brackets, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

Not much to report on technical analysis other than to say that it looks like more all time highs ahead before we roll over.  IBM reported this evening - the stock was up another 4% on its worst revenue since 2002, massive debt build, a self declared lower US government tax rate and more share buybacks.  Since the "after the close" Yellen ramp, the stock has faded - up about 0.5%.  Remarkable.  Scalping is about all that is left in this market for now - be sure you are out before the close.  The US Federal Reserve financed V-bottoms are more aggressive than ever.  I remember the says when the Fed had a mandate and a economic purpose.  Yes, those were the days.

Click on chart to enlarge NASDAQ100 Daily V-Bottoms With A Vengeance – Share Buyback Season And Accounting Fraud Continues

NASDAQ100 Hourly -

[Create Your Own Opinion – Technical Indicators Used – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Cycle Brackets, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

Who would buy a freefall?  Why Janet Yellen and her team of central bankers.  That's who. We expect more downside on Monday - if we move back up, it's likely that Yellen is still making a nuisance of herself.

Click on chart to enlarge NASDAQ100 Hourly Tanks All Day – Bounces Hard At The Close – Thanks Yellenator For Making That Happen
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