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.]

We’ve repeatedly mentioned the influence of the USD.  It appears the USD is ready to make more near term highs.  This is very bearish for US indexes.

Click on chart to enlarge S&P500 Hourly Tanks After Yellen Blather – But USD Rockets – Expect Pull Back Tomorrow

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.]

We’ve spent quite some time discussing Yellen’s influence on the markets (notice how we avoided the word economy).  Without government interference, the markets lead the economy by about 3 months – think earnings and guidance.  When Yellen screwed around with liquidity, she managed to push markets up and do next to nothing for the economy.  In short, the Fed was creating a fraud – markets are good, so economy is good – and that’s supposed to keep social mood buoyant which aids politicians in getting re-elected.  The global economy is a mess and accelerating toward deflation. After the November 4th mid-terms, we expect markets to accelerate downward moreso than they will leading up to the 4th.

Click on chart to enlarge S&P500 Daily Closes Flat As Yellen Cuts Off POMO – For Now – Expect Sell Off Tomorrow

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.]

Markets remain under the directional control of Yellen and her following Feds.  Since Yellen likes to ramble when markets are up, we may not see a roll over until Thursday (Yellen rambles on Wednesday at 2pm).  Not sure why the markets will open tomorrow – we expect a two point range for the day and into Wednesday.  POMO is over and REPO is done – bond interest income is the wildcard – how long this could last to keep markets pumped despite a failing global economy is anyone’s guess and Yellen won’t tell us, but she has told us she will use this to act for upside.  Are you getting sick of this Yellen induced fraud?  Me too.

Click on chart to enlarge S&P500 Hourly Falls At Open And Crawls Upward For The Rest Of The Day – Two Days For Yellen Blather To Pump Markets Higher

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.]

As you may have noticed, Yellen has been the subject of recent comments.  Yellen is responsible for POMO – the six year running process to elevate markets higher which in turn elevates mood (through the constant MSM pump that all is good economically).  Well this SHOULD have ended today – but it didn’t.  The Fed’s interest income from bond purchases is another of Yellen’s stupid games to keep markets up for the November 5th mid-term elections.   This never ending up market should stay up until possibly this Thursday, or November 6th.  Our forecasts constantly change because it is very difficult to read the mind of one person who pushes a button to drive more liquidity into an already bloated market to mask a failing global economy.  We should be done with POMO and RRP (Reverse REPO or just REPO), but interest income from bond purchases is today’s wildcard along with the continuing share buyback gong show (corporate bond defaults pending).

Click on chart to enlarge S&P500 Daily Falls At The Open And Climbs Back To Close Flat – Yellen Bloviates On Wednesday

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
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