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.]

Nothing but up until Yellen chooses to stop POMO for good and to stop juicing these markets with bond revenues.  Yellen on the 29th and Obama on November 5th – markets have a chance at normalizing after these two events.

Click on chart to enlarge S&P500 Hourly Breaks Channel Support And Then Just Keeps On Going Up

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 warning from a technical analysis perspective.  Volume is fading fast as expected.  Yellen speaks on the 29th and since we expect a green backdrop, we could see a pull back early next week, but nothing substantial until after Yellen unloads.  After Yellen stops talking we could see markets find more all time highs on nothing.  Only then may we well see a roll over.  Since Obama’s mid terms and re-election has timed itself nicely with  up markets, we may only see a roll over of markets after November the 5th.  Six years of Fed and government interference in markets to fool the herd into believing that the economy is fine – of course it is not.  When these markets normalize, and they will, Yellen and Obama will go down in history as the engineers of this global economic disaster.  Will Yellen extend POMO?  Only she knows – as unpredictable as she has become.  And this one 10 minute diatribe will likely determine whether markets close the year red or green.

Click on chart to enlarge S&P500 Daily Plays Blast Off – Moves Up 145 Points In Eight Days – Good Job Yellen – But What About The Tanking Global Economy

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.]

You never know what’s going to happen next with the “used car salesman” approach that the Fed / Yellen takes with juicing markets higher.  POMO should end on the 28th of October, but Sneaky Yellen has revenue from purchased bonds that she has stated she will pour back into the markets to make it go up – even more.  Share buyback season, once called earnings season, is now underway.  Of note is Apple who re-purchased $17B in shares in three months that were near all time highs.  With ever other corporation doing this, the only thing that comes to mind is PENDING CORPORATE BOND DEFAULTS.   Buy corporate bonds today and near zero interest and get 50% of their value back in twelve months – it’s quite a deal.  Obama attempts to hold onto the senate on the 5th – this could be the final day of fraudulently holding this gong show market up.

Click on chart to enlarge S&P500 Weekly Rockets 4% On POMO And Fed Bond Earnings Market Pumping – Yellen Bloviates On The 29th – We Think

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.]

Yellen speaks next week and we already know she prefers a green back drop.  After we head lower by end of tomorrow and Friday, we may see a Fed induced bounce higher in preparation for Yellen’s rambling spew about nothing – but code for her flunkies to start buying.  Exit aggressively on down moves as we still may see some strong moves up.

Click on chart to enlarge S&P500 Hourly Close Below Channel Support – Could See Opening POMO Bounce Before Continuing Lower

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.]

Up at the open tomorrow, stall around 11a and roll over by noon.  Yellen is also using proceeds from previous bond purchases to jack the markets – jacking the markets, that is what you call it, isn’t it Yellen?  October 28 is the last shot of POMO – for now. Interesting how the channel “throw overs” pair – one to the support side followed by one to the resistance side.  When markets trend lower, volatility increases and price swings increase.  Be mindful of this as moves lower get more aggressive – exit aggressively and avoid longs overnight.  Cycle brackets indicate more time will be devoted to the downside.

Click on chart to enlarge S&P500 Daily Stalls At Channel Support – Second Last POMO Blast Tomorrow – We Know How It Goes Yellen
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