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

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.]

It’s an odd looking chart – something you might see for a penny stock.  After a bollinger squeeze, the bands should expand, but the direction is never known.  MACD is fading.  We see downside for the early part of the week.  This doesn’t prevent one of Yellen’s drones to say something useless as a signal to get the “punchbowl cash” and buy more.  For now, technicals show roll over.

Click on chart to enlarge S&P500 Hourly Squeezed For The Week – Volatility Should Return – Likely To The Downside

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 expected the rollover this week and it could still occur.  Europe tanked today and if the same continues tomorrow, the US markets should follow this time.  The FTSE and DAX are well diverged from the SPX.

Click on chart to enlarge S&P500 Hourly Likes Going Sideways – Fed Backed Buying Is Fading – Rollover Expected Soon
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