NASDAQ100 Hourly -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Cycle Brackets, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

We are retracing the sharp move lower from the 23rd.  Sentiment is fading quickly.  Volume on today's up move was lower too.  The wildcard is central banks bidding the market, but because HFTs are done on ICE exchanges, pushing the market around just got exponentially more expensive for central banks.  Expect a sharper move lower tomorrow.

Click on chart to enlarge NASDAQ100 Hourly Retracing Sharp Move Lower – Technicals Still Show Down

NASDAQ100 Daily -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Cycle Brackets, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

Thank goodness we have Yellen to bid this market up when corporations continue to report crap despite their endless share buy backs.  Heaven forbid this market should fall.  Sentiment (not show) is falling and has since last Thursday.  So the Fed has chosen to narrow it's bid on losers, which are actually winners. Get it?

Pardon the commentary, but today was indicative of the last six years of nuisance government control of the markets - Obama appoints Yellen and Yellen keeps the market up to fool the masses that the economy is great.  The market opens down and then gets pounded higher on nothingness - this is what big government does.  The cost is billions per day.

We suspect that Obama will get smacked down very soon by Congress.  At this point, Yellen will get the call from Obama to stop bidding the market.  Obama will then blame the market down move on Republicans - like children in the school yard.  The MSM will lap up this rubbish as they always do.

Call today's commentary "speculation beyond technical analysis", but today's sharp fall and reversal is the foot print of Yellen and her balance sheet is starting to squeal.

Click on chart to enlarge NASDAQ100 Daily Down Marginally On Late Central Bank Push – Earnings Season Remains Pitiful

NASDAQ100 Hourly -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Cycle Brackets, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

The bollinger bulge is on the lower band - it is small, but we'll take it.  MACD looks over bought and ready to convert.  Sentiment (not shown) is at the same level as it was when the market was at 4220 - likely because central banks are focusing their buying - how anyone could call Dow companies McDonald's and IBM bullish is beyond me.  Games, games, silly games.  Poor Yellen probably isn't sleeping well this weekend.

Click on chart to enlarge NASDAQ100 Hourly Looks Ready To Roll Over Next Week – MACD And Bollinger Bulge Look Bearish

NASDAQ100 Daily -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Cycle Brackets, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

Even the MSM is picking up on central bankers actively buying markets.  Commodities continue to fall (CRB down 3.4% and CCI down 2.2%), but big government who appoints central bank heads continues to blow billions per day to game markets up - a fight against deflation that big government and central banks are going to lose badly. The bollinger moving average continues lower (trend = friend), but MACD remains up.  Wild swings have made it difficult to choose a direction, but the most compelling event this month is the end of HFTs on the NYSE (ICE owned).  Since January 14, daily moves up have been much smaller, pullbacks are more apparent and we remain well below all time highs - who knows - maybe technical analysis may prove useful once again.

Click on chart to enlarge NASDAQ100 Daily Reverses Abruptly To Channel Support – Need Close Below 1990 and 1970

NASDAQ100 Weekly -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Cycle Brackets, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

If nothing else, this earnings season has proven one thing - company earnings and revenue are nearly irrelevant to share price - nearly, but not entirely.  Once again, big government continues to work with central banks to blow billions per day to keep stock markets up - for the masses who still think big government is good, this must be very confusing.  The big US banks all reported lousy and their stocks fell.  Magically, they have all recovered.  We continue to believe that the end to HFTs on ICE run exchanges on January 14 (includes the NYSE) has put an end any chance of more all time highs.  Divergence in the MACD and its turn down helps to confirm this.  We need a close below 4070.

Click on chart to enlarge NASDAQ100 Weekly Reverses Up Sharply On Low Volume – Central Banks And Big Government Continue To Mortgage The Future To Keep Stock Markets Up
Page 1 of 21112345...Last →