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.]

Should be interesting to watch this market move in the face of cycle brackets that show upside.  Could see sideways move / stall on Monday before continuing lower.

Click on chart to enlarge S&P500 Daily Falls Hard Through Channel Support – US Dollar Strength Remains Key To This Move Lower

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.]

While it has taken much longer than expected, the stronger US dollar has finally broken the backs of the US indexes.  There will be little that Yellen can do to reverse this.  A stronger US dollar negatively affects all US based companies through their export trade and their businesses abroad that transact in other currencies.  We need to close below 1980 on a weekly basis to consider this to be a trend reversal (after six long years of Federal Reserve bidding US markets higher).  US bonds have also been crushed in the process (while yield continue to rise).  Markets moving down as US bonds move down - implies a very unstable / bearish scenario.

Click on chart to enlarge S&P500 Weekly Down Sharply As US Dollar Continues To Rocket Higher – As Forecast

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 US dollar transacts about $5.2T per day worldwide.  When the USD moves higher, it profoundly and negatively impacts prices.  We have seen this in commodities.  But with Yellen and the Fed buying up shares in the stock market to keep it aloft, one can only imagine the size of the Fed's balance sheet.  Stated at $4.2T, we would consider that a complete lie.  $10T?  Getting warmer.  No wonder Yellen became angry when asked about an audit.  The Fed is currently the single most destructive organization globally.  The Fed is pushing an inflation target by blowing trillions to make GDP positive.  Latest forecasts call for Q1 are near 1.2% GDP - more economic decline in the face of all time highs.  Yellen and the Fed have let this fraud go on for too long.  Should burrito chains really have a market capitalization of $21B?  Chipotle executive thank you Yellen, but the rest of the world does not.

Click on chart to enlarge S&P500 Hourly Continues To Move Lower – Central Still Bidding This Market In The Face Of A Stronger US Dollar

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.]

Beef remains at near all time highs.  CME gasoline moved from $1.20 per gallon to $198 per gallon in five weeks while the US dollar continued to climb.  Oil continues to hold while the USD moves up.  US housing indexes are riding near all time highs (companies whose business is building homes) while the US housing market is stalled and ready to tank like it did in 2007.  It seems that there is a Fed agenda to bid certain markets that are close to the consumer - stock markets, gasoline, oil, beef - all in the face of a rising dollar.  Today's down move was accomplished in 35 minutes - the remaining 5 hours and 55 minutes were spent by bidding higher largely by the Fed.  Is there really a competent investor doing a value buy at these levels?  The Fed balance sheet, said to be at $4.2T, is likely over $10T but the Yellenator won't let the auditors in.

Click on chart to enlarge S&P500 Daily Tanks At Open And Retraces – Central Banks Continue To Bid Select 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.]

Have to wonder who's long for value.  Germany's DAX is up nearly 30% in five months - this exchange takes the cake.  Central bankers ruining lives and lying to us that they are there to help - party like it's 1942.

Click on chart to enlarge S&P500 Hourly Gets Ramped By Central Banks In Final Hour