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

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.]

Be mindful of the likely POMO bounce at the open, right Yellen?  Once Yellen gets out of the way with her nuisance gaming of the markets – should end late morning, you can expect more downside.  BTFD was supported by POMO and this ends October 28.  REPO could be an issue, but REPO is not spread over the month like POMO.  So much for technical analysis.  We prefer to refer to it as Yellenical Analysis.  Stay small and exit aggressively folks.

Click on chart to enlarge S&P500 Hourly Closes Near Low Of The Day – For The Second Straight Day – POMO Tomorrow

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.]

Refer to the daily for support and resistance – the hourly will be too inconsistent when we consider the big markets swings that should come next week.  Good time to day trade.  Scalp ‘em if you got ‘em.

Click on chart to enlarge S&P500 Hourly Tanks Below Channel Support – Get Ready For Big Swings Intraday
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