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 are retracing the sharp move lower from the 23rd.  Sentiment is fading quickly.  Volume on today's up move was lower too.  The wildcard is central banks bidding the market, but because HFTs are done on ICE exchanges, pushing the market around just got exponentially more expensive for central banks.  Expect a sharper move lower tomorrow.

Click on chart to enlarge S&P500 Hourly Retracing Sharp Move Lower – Technicals Still Show Down

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.]

The bollinger bulge is on the lower band - it is small, but we'll take it.  MACD looks over bought and ready to convert.  Sentiment (not shown) is at the same level as it was when the market was at 1994 - likely because central banks are focusing their buying - how anyone could call Dow companies McDonald's and IBM bullish is beyond me.  Games, games, silly games.  Poor Yellen probably isn't sleeping well this weekend.

Click on chart to enlarge S&P500 Hourly Looks Ready To Roll Over Next Week – MACD And Bollinger Bulge Look Bearish

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.]

Brute force is all that central banks (Yellen) have left as they buy anything that moves down.  Revenues and earnings are flat at best across the board, but politicians continue to order central banks to pump this beast higher.  Accounting trickery also helps the MSM to pump the euphoria.  We should see markets start to turn back down tomorrow as sentiment diverges price.

Click on chart to enlarge S&P500 Hourly Grinds Higher – No V-Bottoms Because No HFTs For Yellen To Fraud The Markets

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 always entertaining when some central banker says something and then the markets take off - today's move appears to be legit - no HFTs.  So this move should be short lived - we expect a move down on Tuesday, Monday being a US holiday.

Click on chart to enlarge S&P500 Hourly Pushes Up After Bullard The Banker Threatens More QE – No V-Bottom This Time

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 can still expect moves backed by central banks, but it just got a whole lot more expensive to do it now.  No more leaping markets higher by executing orders faster and above the markets using HFT according to ICE.  Central banks have to buy the markets at the same speed as the rest of us.  Expect lower shadows on candles to disappear and upper shadows to become more pervasive as aggressive buying will likely fall to aggressive selling.  The global economy is a complete mess and deflation is beating its drum loudly.

Click on chart to enlarge S&P500 Hourly Absent Of HFT And Trending Nicely Once Again – Yellen’s Game Is Over
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