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.]

With no end in sight to market upside, economic macros continue to send mixed messages.  US GDP was adjusted up to 3.9% for Q3 – while the largest economy in the world – Europe – has a negative GDP.  China’s GDP is built almost entirely on credit – with empty cities and bankrupt state run companies to show for it.  Central banks continue to buy markets – you can watch it intraday – any pullback gets hammered higher.  Higher markets keep the pensions/ponzi’s alive – even though the top 25 US pensions have an unfunded liability of $2T.  When these markets tank, pensions are done.  Ask the pensioners in Detroit what it’s like to get 10 cents on the pensioned dollar.  The key to this market rolling over remains the USD – see our USD update for details.

Click on chart to enlarge S&P500 Hourly Moves Sideways On Fed Continuing To Set Market Direction – Day 30 And Counting

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.]

Not much to say here – nothing but up continues – Day 28 and counting.  A new 86 year record.  Good job Yellen.

Click on chart to enlarge S&P500 Hourly Gaps Up Again – It’s A Neat Trick The Fed Likes To Do When Pumping Markets – And Mortgaging Our Future

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.]

Short weeks make for lower than usual volume and wild price moves.  Today’s message appears to be, don’t fight the Fed.  Watching the open was astounding and watching the fade was laughable.  And these are the markets we live with.  Look for a pull back next week – after 27 trading days caught in this uptrend, maybe it’s time.  Let’s see how Yellen feels on Monday, shall we?

Click on chart to enlarge S&P500 Hourly Spikes And Does An Order Central Banker Fade – Short Trading Week Coming

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 should roll over tomorrow, but that may be too obvious for the Fed’s liking.  By Friday, we should be well on our way down.  This market has proven one thing over and over – when the Fed exits the markets, the market fall quickly.  Gathering almost $5T in assets is enough for now, would you agree Yellen?  And the market value on the Fed’s assets should make for an interesting report as markets fall and rates rise.  Many know it’s going to get ugly out there – the question of course is when.  One can only guess, but our sense here is that it will occur soon.

Click on chart to enlarge S&P500 Hourly Falls Early And Fails To Recover – The Fed Is Out Of The Game

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 blathers on Wednesday – could see the squeeze continue tomorrow and then break out after Yellen stops talking.  To the upside or downside remains to be seen, but post Yellen blather tends to the upside.

Click on chart to enlarge S&P500 Hourly Stays Squeezed – A Volatile Move Is Coming
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