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.]

Nothing but up until Yellen chooses to stop POMO for good and to stop juicing these markets with bond revenues.  Yellen on the 29th and Obama on November 5th – markets have a chance at normalizing after these two events.

Click on chart to enlarge S&P500 Hourly Breaks Channel Support And Then Just Keeps On Going Up

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 speaks next week and we already know she prefers a green back drop.  After we head lower by end of tomorrow and Friday, we may see a Fed induced bounce higher in preparation for Yellen’s rambling spew about nothing – but code for her flunkies to start buying.  Exit aggressively on down moves as we still may see some strong moves up.

Click on chart to enlarge S&P500 Hourly Close Below Channel Support – Could See Opening POMO Bounce Before Continuing Lower

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.]

To continue from the daily report, POMO extension is hitting the MSM now.  If this extension does occur, the message is clear – POMO on, markets up.  POMO off, markets down.  This will continue until the Fed has purchased all the tradeable shares of all the stock exchanges – OR – until the board members of the Fed demand Yellen’s resignation.    Yellen isn’t stupid – a bit arrogant, but not stupid.  Yellen knows what she is doing.  If POMO continues, something more grand is occurring, but you can be sure that whatever is unfolding, it will not be good for you nor I.   In general Santelli is all that counts over at CNBC, but even Rick had trouble handling Peter Schiff at Euro Pacific Capital – a two minute rant – funny.

Click on chart to enlarge S&P500 Hourly Shows No Down Ticks – Yellen Unleashes Uncle POMO On 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.]

Click on chart to enlarge S&P500 Hourly Cuts Through Bear Channel Resistance – Could See Move To 1910 Before Roll Over

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 only cover the 60m here, but if you aren’t looking at 30m or 15m with a sensitive oscillator, you should consider it.  Swings like today will be the new norm as we enter the world of a two sided market, something that has gone missing if not for the last five years, definitely the last two years.  We expect a flat open tomorrow and by mid morning we should be heading down again.

Click on chart to enlarge S&P500 Hourly Moves 30 Points Higher In the Final Two Hours – Expect More Wild Market Swings Like Today
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