S&P500 Hourly -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

Click on chart to enlarge S&P500 Hourly Falls Early And Recovers – Trend Shows Down – No POMO For Tuesday

S&P500 Hourly -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

Click on chart to enlarge S&P500 Hourly Reverses Trend – Need Close Below 1950 To Confirm Downside

S&P500 Hourly -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

Should see bounce off channel resistance and a turn down.  Technicals topping.

Click on chart to enlarge S&P500 Hourly Consolidating – One More Push Up – Again

S&P500 Hourly -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

The largest driver of the market – POMO is over in October – the market sees this.  Rates need to rise to cut off ZIRP bonds that corps are using to buy back shares to pump their EPS – that should follow soon since the Fed no longer has the ability to buy bonds in the volume they had been purchasing.  As a result, the US government can cut spending  (laugh loud here) or they can issue higher rates to attract other bond buyers.  Guess what’s going to happen?  Fed lies of 2015 rate jumps is just that – lies.  The Fed only influences rates, they do not set them.

Click on chart to enlarge S&P500 Hourly Rolling Over – Need To Get Below 1955 Soon Or We Could Be Up For More All Time Highs

S&P500 Hourly -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

This chart says it all.  Economic macros reporting up while 50M Americans remain on food stamps and labor participation rates are the same as the mid 1970s.  Take notice of the V-bottoms going back into May – and long before that.  This is what you get when you have global governments interfering in markets – set up bear traps and then pulverize these bears and force them into a short squeeze position.  The Fed is running short on bonds (their collateral) – this should end ugly in the weeks to come – heard the Fed urging others to sell bonds lately?

Click on chart to enlarge S&P500 Hourly V-Bottoms Nicely As Fed Interference Continues To Drive Markets Up While Economy Contracts
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