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.]

Broken channel support again.  Cycle brackets show down.  Unstable global economy created by central banks that continue to devastate so that markets can be held up.  Chinese futures index fell 7% today - after more than doubling in about 9 months.  The bigger joke is Europe - disastrous economy and markets at all time highs.  Monday will be a good test - Yellen will be up early bidding markets up and doing goodness knows what with all that inventory - $4.2T balance - that's a like.  Try over $10T.  In the meantime we are calling for a lower market on Monday - after 10 days in uptrend, a second day in a downtrend sounds reasonable - hopefully central banks will allow it.

Click on chart to enlarge S&P500 Daily Finally Rolls After Ten Days In Uptrend – Central Banks Continue To Create More Debt And Spend It Buying More Stocks – Indirectly Of Course

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.]

With the results shown so far, accounting gimmicks, choosing your own federal tax rate and share buybacks appear to the the top tools of the trade to fudge inline results.  And behind this comes the bid backed by central banks.  More euphoria.  More all time highs.  Moves up are weakening, but we continue to grind up.  Not much to add from a technical analysis standpoint - it all gets ignored anyway.  Lots of big names report tomorrow including Goldman - expecting big push up tomorrow on weak results, bloated inventories and a rising US dollar.

Click on chart to enlarge S&P500 Daily Nears Channel Resistance And More All Time Highs – Share Buyback Season Is Well Underway

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.]

JP Morgan and J&J report before the open.  Expect lots of accounting games and the "everything is great" narrative.  After we bounce, we may fall sharply thereafter.  May be a great time to get short the market.

Click on chart to enlarge S&P500 Daily Shows Top – Need To See Close Below Channel Support To Confirm

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 appears to have resumed its uptrend.  The  "10 and 2" bond yield spread looks ready to rise (not shown) and markets continue to push higher.  Ignore what Yellen says about rates.  The Fed does not set rates.  The Fed follows the 3 Month T-Bill.  Share buyback season ramps up next week - expect some wild swings.  Europe's economy is in the tank.  Asia is off the rails.  The US economy will likely report negative GDP for Q1.  And markets continue move to all time highs - here, in Europe and in Asia - and the gong show continues.

Click on chart to enlarge S&P500 Daily Up Again – More All Time Highs Coming Next Week On The Back Of USD Par

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.]

Earnings season kicked off with Alcoa getting a passing on accounting gimmicks - what else is new.  When the Fed has your back, missing targets is bullish so long as you can fabricate well. MACD momentum is stalled, but we could be in for a push up.  Let's be clear about one thing - global markets are riding a high because central banks are buying up their own stock markets with debt.  Beyond ridiculous - bizarre is the new normal out there. Surreal is another good term.

Click on chart to enlarge S&P500 Daily Remains Stalled At Channel Support – Trend Basing And Starting To Turn Up
Page 1 of 9512345...Last →