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 can still expect moves backed by central banks, but it just got a whole lot more expensive to do it now.  No more leaping markets higher by executing orders faster and above the markets using HFT according to ICE.  Central banks have to buy the markets at the same speed as the rest of us.  Expect lower shadows on candles to disappear and upper shadows to become more pervasive as aggressive buying will likely fall to aggressive selling.  The global economy is a complete mess and deflation is beating its drum loudly.

Click on chart to enlarge S&P500 Hourly Absent Of HFT And Trending Nicely Once Again – Yellen’s Game Is Over

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.]

We expect to see markets continue downward tomorrow.  Why?  Because Yellen and the other central bankers can't use HFT firms to leap the markets higher.  ICE changed their rules today (owner of the NYSE).  So no more wild ass moves in five minutes.  Markets, for now, get to trend and flow like they did before the suspect QE programs kicked off.  Central banks and their aligned financial institutions can still work the markets, but they must execute orders at the same speed as the rest of us.  And it's about time.  This process of Obama using banks to manipulate markets to drive social mood positive to get re-elected was hugely expensive and an utter failure, much like Obama's presidency.

Click on chart to enlarge S&P500 Daily Closes Down On A Hammer – But It’s Probably Not A Bottom – HFTs Are Off – For Now

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.]

Wonder why technical analysis has failed so many times?  Here's why.

Click on chart to enlarge S&P500 Hourly Consolidating – May See Move Lower At Open – ICE Ends HFT This Wednesday

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.]

We should see a drop at the open.  Whether is stays down is unclear.  After Wednesday it may not matter as all ICE exchanges (you'll have to wiki ICE to find out which ones) which includes the NYSE, ICE won't allow HFTs to use their "momentum ignition" tactics.  This means that V-bottoms are likely done for good.  It's a joke that it went on this long.  Wednesday can't come soon enough.  Get ready for a big drop this week.

Click on chart to enlarge S&P500 Daily Closes Down – January 14th Is HFT Shutoff Day On ICE Exchanges

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.]

The CME altered it's high frequency trading (HFT) rules back in September 2014 - .  ICE (owns the NYSE) will be effectively banning HFT abuse next week - January 14.  This should mean that January 13 is a good day to load up on shorts, but you may want to wait for a confirmation.  The Federal Reserve, US Government and certain financial institutions have used HFT to "leap" the market higher in the face of a decline since March 2009, perhaps earlier.  The net effect is that the financial institutions get their profits, the Fed gets their justification to exist and the US Government's tool for social mood, US indexes, continues higher to keep voters in the mood to re-elect incumbents.  This should all end next week - that markets have made it this high is a joke.  Here's the notice from ICE delivered on December 29, 2014.

Click on chart to enlarge S&P500 Hourly Bounces Up As Europe Closes Down 2.25% – January 14 Should End This Crap