S&P500 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.]

MSM is starting to cover some of the Fed's bidding of markets higher - we refer to this as fraud.  Q1 results and Q2 guidance should be awful as the USD moved up again today - the USD is about 20% higher over six months.  Yellen will either announce another QE to really destroy markets, or we should tank sharply.  Flip a coin folks.  It's anyone's guess.  From 2000 to 2008, US government debt moved from 5.5T to near 10T.  From 2009 To current, US government debt moved from 10T to 18.5T - took about 6 years at 1.5T per year.  The debt ceiling would need to be rammed up to 21T to make this market rocket higher - on lousy earnings, lousy revenue and contracting GDP - the biggest fraud in history if it were to occur and all thanks to the Fed.

Click on chart to enlarge S&P500 Daily Gets Yellenized Again – Up 22 Points In First 20 Minutes – Fed Continues To Fraud Markets

S&P500 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.]

We cracked channel support again, but the bounce ensued.  Q1 reporting starts April 8, but we start to ramp up reporting almost a week later.   No earnings confessionals yet - kind of a joke that such a coordinated effort is being made to not disclose the pending earnings and guidance declines.  Intel and SanDisk are the only ones to "confess" and their stocks proceeded to fall about 20%.  We expect a decline on Monday or Tuesday - after this consolidation completes.

Click on chart to enlarge S&P500 Daily Remains Range Bound – Setting Up A Flag Before The Next Move Lower

S&P500 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.]

The USD has pulled back, but it shouldn't last for long.  Europe maintains it's NIRP (negative interest rates) and this weakens the Euro.  No amount of central bank screwing around with currencies will change this.  We expect the USD to continue higher very soon - perhaps as early as tomorrow.  The rise in the USD will cause Q1 results to show poor and WILL crush Q2 guidance.  The indexes should continue to fall sharply for the rest of the week unless Yellen and her aligned banks continue to purchase over valued stock - Yellen's unaudited balance sheet is fat enough with all time high stocks, but you never know.

Click on chart to enlarge S&P500 Daily Long Awaited Drop Arrives – USD Strength Continues To Apply Downward Pressure As Forecast

S&P500 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.]

The USD took another beating today in the face of a stalled market.  Maybe Yellen can return the USD back to 72 cents in time for quarter end.  Anything is possible.  On a more serious note, we have yet to see "earnings confessionals" for Q1 with 7 days to go.  We are into the second have of the 5 month cycle - we should be moving lower.  This trend up has been one of the weakest in over a year.  We should see more pullback tomorrow.

Click on chart to enlarge S&P500 Daily Fades At The Close – Remains Inside Channel – USD Continues To Be Pounded Down

S&P500 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.]

The market breadth used to get to higher highs is narrowing again.  Deflation is ramping in the face of Fed bidding markets up. GDP guidance is falling - again - but more aggressively this time around.  Trends up since last October have been much stronger than this one of seven days.  Technicals are mixed and leaning to the downside.  The question is how much higher does Yellen want to bid this market before we tank again.  No amount of technical analysis will answer this.  The global economy is in terrible mess support by fabricated government data and share buy backs beyond anything seen in history.  US corporate debt is at historical highs (despite the MSM reporting).  We should pull back on Monday.

Click on chart to enlarge S&P500 Daily Completes The Up-Down Trend As Fed Narrows Buying Of Equities Of Major Indexes
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