S&P500 Hourly -

[Create Your Own Opinion – Technical Indicators Used – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Cycle Brackets, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

The key is the USD.  The USD fell hard today.  Europe has negative bond interest rates and the US has positive bond interest rates.  So why would "profit minded" people buy Euros and sell USD?  Well they wouldn't.  But central banks sure would.  Why?  Well to keep the "recovery continues" narrative going which we all know is a lie.  The stronger USD is going to crush US revenue and earnings for Q1 and guidance is going to be dismal.

This move up won't last that long.  We may fall sharply as early as tomorrow.

Click on chart to enlarge S&P500 Hourly Shows 45 Point Fed Financed Bounce – Not Likely To Stay Here Long

S&P500 Daily -

[Create Your Own Opinion – Technical Indicators Used – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Cycle Brackets, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

The only thing more ridiculous than watching the indexes rocket starting at 140p (you have a leak amongst your staff Janet) was watching bonds rocketing too.  And then the USD tanking - well that's makes more sense - buying US bonds that pay you interest - don't want that.  I want to buy Euro bonds where I pay the ECB interest (NIRP version please) - that makes more sense.  Ah yes, today was one of the more "rotten to the core" days.

We expect a down move to occur soon - likely tomorrow.  A rising USD should smash revenue and earnings (remember what those were, anyone, anyone, Bueller, anyone) but aside from Intel there have been no "earnings confessions" going into the final two weeks of the quarter.

Remember this folks.  A rising USD will crush US corporate financials as we will see soon.  Raising rates as Yellen says she can do (we know Yellen is lying) will drive the USD much higher in the face of European NIRP bonds.  Remember the rate hike promised for March last October?  Rate hike in June? Rate hike in September?  We call bullshit to these too Janet.

Click on chart to enlarge S&P500 Daily Does The Bloviating Yellen Bounce – Not Likely To Hold

S&P500 Hourly -

[Create Your Own Opinion – Technical Indicators Used – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Cycle Brackets, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

So we are right on schedule for our March 15 US debt ceiling deadline - well not really.  Economically it is miserable out there.  The biggest lie going is Yellen and the Fed bidding global markets higher - shouldering future generations with massive debt so Yellen can own a few more shares in Apple.  Just brutal.

Thanks for wrecking the markets Yellen - the DAX thanks you for it's five month, 46% rise.  The rising USD is going to take you down Yellen very soon.

Click on chart to enlarge S&P500 Hourly Rockets As US Debt Ceiling Deadline Of March 15 Gets Ignored – No Outcome Reports

S&P500 Daily -

[Create Your Own Opinion – Technical Indicators Used – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Cycle Brackets, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

Economic macros continue to report lousy and worse than previous months.  European QE is disorganized and there are few bonds to buy.  Energies keep falling.  But the Yellenator must go on - this Wednesday after 200p so MSM can hang on every word and report more meaningless crap.

The biggest joke out there is the German DAX - up 2.55% today on nothing other than what the MSM makes up.  The DAX is now up 46% in five months and now qualifies as a certified penny stock.  Yes folks, the world's stock markets are being bid higher by debt created by central banks.

The way we trade this beast is to scalp indexes and volatility.  We take small profits and put on one to two trades a day. We use a 30 minute time frame and confirm using the 15 minute charts.  If you are in a position for more than a day, you are doing something wrong.

Click on chart to enlarge S&P500 Daily Up On Fed Buying In Prep For Wednesday News Conference – No News On March 15 Deadline For Debt Ceiling

S&P500 Hourly -

[Create Your Own Opinion – Technical Indicators Used – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Cycle Brackets, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

Stay close to your screens on Sunday night.  No MSM on defaults.  It's getting dark out there.  We left the channels unadjusted - notice the varying strengths of the indexes - SPX being the strongest.  Expect downside on Monday.

Click on chart to enlarge S&P500 Hourly Gets A Yellen Bounce In Final Hour – US Government Set To Default Sunday Night