S&P500 Weekly -

[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 Weekly Up Another 1.3% And Into Channel Resistance – Volume Still Low

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.]

MSM says buy more stocks if you haven’t already.  We disagree.  Stay small if you are in on either side or stay out.

Click on chart to enlarge S&P500 Hourly Shows Big Reversal After Morning Drop On Suspect Economic Conditions

S&P500 Daily -

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

We expected a pull back.  It didn’t happen.  The MSM is nearly euphoric.  Economic data is spun euphoric.  Bullish sentiment well above 2007.  Everything is great. Typical traits of market tops.  The RUT remains well below its March all time high.

Click on chart to enlarge S&P500 Daily Up Again On – Volatility Remains Crushed – Expected Pullback Nowhere To Be Found

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.]

Expect an early push up followed by some pull back.

Click on chart to enlarge S&P500 Hourly Tanks Early – Bounces Back And Stays Stalled

S&P500 Daily -

[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 a pullback by Wednesday if not sooner.  Big POMO on Tuesday and Thursday – no taper for June and no MSM coverage on the subject.  Dragonfly doji today – almost forgot to mention the new all time high today.  Government statistics being reported are incongruent and unreliable (distorted data normal for major tops) – many indexes continue to show above 50 – it appears that a drop below 50 may cause panic selling.  The big tell to a top was the long awaited move up by the USD and the drop – again – of the Euro and the GBP – should help to push markets lower.

Click on chart to enlarge S&P500 Daily Climbs Another Point On Tanking Volume – Expect A Pullback Soon