S&P500 Hourly -

[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.]

Markets get ramped at the open.  The rest of the day, the markets are pinned up by the Fed's strong bid in the face of any selling and up we go.  It lasted about 8 days last go around.  No "earnings confessional's" today other than Goldman saying they will miss, but because GS is complicit in bidding markets up, it didn't matter.  This is what stability is all about through the eyes of the Fed.  Probably higher tomorrow.  A stronger USD puts downward pressure on US indexes.

Click on chart to enlarge S&P500 Hourly Shows The Damage The Fed Creates – Just Like Two Weeks Ago

S&P500 Hourly -

[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.]

Central banks are likely to be bidding the open on Monday.  Technically it appears as though any bounce will be muted.  Key support near 2040 yet to be tested - this needs to happen Monday or Tuesday, or we could be in for another Fed induced ramp back up.  That we fell so hard, so fast this week is a strong sign of market weakness.

Click on chart to enlarge S&P500 Hourly Consolidating – Could Bounce Before Moving Lower

S&P500 Hourly -

[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.]

Global markets have been over bought for far too long.  US markets are a complete overbought mess.  This should be the start of the biggest down move in history.  Support near 2040 and 1980.

Click on chart to enlarge S&P500 Hourly Free Fall Continues – Indicates Q2 Guidance Is Going To Be Awful

S&P500 Hourly -

[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 Yellen bidding markets, calling pullbacks has been brutal.  But we go with what we see in the charts.

Click on chart to enlarge S&P500 Hourly Gets Back Inside Channel With The Fade Into The Close – Expecting More Downside Tomorrow

S&P500 Hourly -

[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 Fed has made a joke of US markets.  This, however, doesn't help with trading.  We have moved to buying /scalping options as a means to manage the "Yellen nuisance factor".  Pick a bias and avoid staying in overnight.  Be prepared to lose of of your position.  In other words, keep your sizing small.

Click on chart to enlarge S&P500 Hourly Rockets Again On Nothing But Awful Economic Reality – Big Sell Off In Final Hour
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