S&P500 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 Bank for International Settlements – the central bank of central banks – former staff says “every man for himself”.

Click on chart to enlarge S&P500 Hourly In Another Vertical Ascent As Global Economy Continues Struggling

S&P500 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.]

Not much in the way of technical analysis – somehow, it remains acceptable for central banks to create an endless cash supply out of thin air and then “bear trap” investors / traders by deceptively ramming markets up after a substantial. Notice the slower MACD line that still shows downtrend?

All time highs are ready to go for Monday.  If this move was legitimate, we could be in for a long ride higher.  Yellen rants usually fade a few days later and turn down aggressively.  What is interesting is that the cash VIX was near 11.50 the last time markets were this high – today the cash VIX closed at 16.18.  As well, 3 month and 6 month T-bill yields are moving higher.

We keep asking, “Hey Yellen, are you done yet?”.

Click on chart to enlarge S&P500 Daily Eases After Central Banks Bid Markets Higher – Print And Buy – Nice Job Yellen

S&P500 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.]

We were wrong again – after tanking last week, Yellen does some cryptic bloviating and magically the market recovers in 3 days.  Magic – .  The folks at zerohedge reposted USA Today’s front page – “Fed to the Rescue” – largely about Yellen and the rest of the central banks jamming markets higher.  MSM is finally reporting this endless corruption of markets by central banks.

The global economy is running on the fumes of its fumes. Economic data reports are a complete farce – a mix conflicting messages.  Share buyback season starts in less than three weeks – with Q4 US GDP estimated to come in at less than 2%, this should get entertaining.

The last roll over, thanks to Yellen / Fed buying, took 36 trading days to complete – about two months.  Commodities continue to deflate – markets continue climbing along with the USD. Nice job Yellen – SNAFU.

Click on chart to enlarge S&P500 Weekly Gets Yellenized And Rockets 3.4% – More All Time Highs Again Next Week

S&P500 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 RUT was up 3.11% today – another wide swing that often occurs in bear trend markets.  Expect a small move up or a reversal similar to those that have occurred since December 8.

Click on chart to enlarge S&P500 Hourly Gains 30 Points In Final Hour Of Trading – Massive Short Squeeze

S&P500 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.]

Most of the MSM is crediting today’s move on Yellen’s speech.  Why not?  It’s as good as any other reason.  The reality is that market swings get wider (today’s RUT was up 3.11%) as a bear trend picks up momentum.  We could see another move up tomorrow, but you may notice that since December 8, when large up moves were made, they were rejected the following trade day.  The USD rocketed over a cent today – another indication that markets should continue lower.  The 6 month t-bill yield has quadrupled in the last month – these are not large number moves, but the message is clear – the cost of shorter term money (ie: bank rates) is going to move up soon and there’s little that Yellen can do now other than talk about it.  In short, the probable move is a small up tomorrow.  The less likely move is a sharp reversal.  The most unlikely is a sharp move higher.  The trend is down for the next 2-3 trading days at least.

Click on chart to enlarge S&P500 Daily – Sharp Move Up – Expect Larger Daily Swings As Bear Market Takes Over
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