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

S&P500 Daily -

[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.]

Lots of fun ahead for day traders as volatility rockets higher.  Swing / day traders start your engines!!!  Yellen has exited POMO and the Europeans, actually Germans, have already decided that they will not prop markets up anymore.   With Yellen out of the way and on the bench where she belongs, markets should normalize quickly.  We intend to short most bounces and will avoid long positions until we see some stabilization to the downside.  When in doubt about these wild swings, refer to your trend lines.  Small POMO on Tuesday and Thursday – so we could see deceleration or a weak bounce – a great time to get short again.

Click on chart to enlarge S&P500 Daily Closes Below 18 Month Channel Support – Expect Wild Swings And Keep An Eye On Trend

S&P500 Weekly -

[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.]

And once the Feds stop screwing with the markets using POMO, the markets fall/normalize.  So why was/is the Fed doing this?  It is common understanding that the market indexes are measures of social mood – the higher, the better.  It is also common knowledge that when markets stay up, US Presidents get re-elected.  Trillions out the door to game the masses into believing that the economy is doing just fine and to re-elect a US President who’s probably the biggest nincompoop in the history of US Presidents.  Oh yes, and with the active participation of the MSM promoting all this bullshit, the process completes itself.  All good until music stops.  Expect much bigger swings in daily markets in the weeks ahead – hear that all you day traders?  We need a close below 1900 to confirm this bear.

Click on chart to enlarge S&P500 Weekly Falls 3% – Look Yellen, NO POMO – Need To Get Below 1900 Support

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 expect wild swings, but perhaps not as much to the upside as we had today. POMO Janet and her band of Fed-heads still have until the 28th of this month to make a nuisance of themselves by screwing around with the markets.  Earnings season is upon us once again – another 4 weeks of embellished buoyancy.  Since POMO is done – for now – the market may not buy the share buyback stories this time around.  We expect a small bounce going into the noon hour.  We should be falling by afternoon.

Click on chart to enlarge S&P500 Hourly Rockets 35 Points In Three Hours – Whatever – It Won’t Last

S&P500 Daily -

[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.]

Neat post 2pm trick today courtesy of the Fed – something about minutes and pigeons, no wait, doves.  It won’t last.  When POMO ends October 28, the market should move to normalize.  The global economy is in the tank.  Commodities have tanked (except meats which are sitting near all time highs).  The USD has pulled back, but has recently hit a four year high and likely an eight year high very soon (see USD monthly).  Insiders have been moving out of their positions – which means that while you go long, the CEO (and his colleagues) of the company you just invested in is unloading as fast as he can without crashing the market.  Expect a move up and then we roll over – much like we did two days ago.

Click on chart to enlarge S&P500 Daily 34 Points On Yellen’s Message – Don’t Fight The Fed