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.]

We have another 2B leveraged entering the markets tomorrow – July has been the worst performing month since January and POMO has also been smallest – so when the Fed is done screwing around like children, markets should revert back to more reasonable levels in August and for the rest of the year – 200EMA is near 1860, 90EMA is near 1922.  Share buyback season is almost done (used to be called earnings season).  It’s really sad to see how much damage the Fed has caused and how much more damage will occur going into the fall.

Click on chart to enlarge S&P500 Hourly Breaks Channel Support – Look For More Downside Tomorrow

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 continuation of trend down tomorrow.  GDP was 4% – if you believe this, there’s a bridge in Arizona I’d like that’s for sale with your name on it.  As mentioned many times before, government numbers will reflect the level of desperation to keep these markets up.  If the economy was expanding at 4%, why is POMO still happening?   25B in POMO announced for August down from 35B this month.  We have said this many times too – when POMO shuts off, markets will tank.  We need to get below 1950 to confirm more downside.

Click on chart to enlarge S&P500 Daily Stalls – High Wave Candle Shows Indecision – More Downside Tomorrow

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 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.]

Click on chart to enlarge S&P500 Daily Shows Uncertainty – No POMO Tomorrow – Expecting 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.]

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