Friday, May 13, 2016 9:53:40 AM
More Fun then a Barrel of Rabid Monkeys with Tasers
http://www.pretzelcharts.com/
"SPX has continued to move in a fashion normally associated only with seizures, thereby frustrating both bulls and bears, and causing everyone to consider smashing their computers with Janet Yellen (note: not that I am suggesting you try this. Err... maybe.).
In other words, the market has behaved as it does when it's in a... drum roll please... chop zone:"
"Not surprisingly, given the chop zone of the prior two months, there is no change to the intermediate picture. I still prefer the complex ABC, though the annotation of May 6 remains true for the moment:"
"It's interesting to note that RUT made a new low yesterday (not shown), although SPX bounced shy of its recent low -- because it was required to, in order to fulfill its contract with Goldman Sachs (ticker symbol: GOD. At least, that's what the symbol is supposed to be, according to an internal memo released by Goldman Sachs.)
Finally, no real update to the near-term SPX chart:"
"In conclusion, after the last couple months spent in the chop zone, and after the last several sessions in a chop zone within a chop zone, there's really very little to add to the recent updates. Now it's more a matter of waiting for the market to point the way to its next move more clearly. Trade safe."
http://www.pretzelcharts.com/
"SPX has continued to move in a fashion normally associated only with seizures, thereby frustrating both bulls and bears, and causing everyone to consider smashing their computers with Janet Yellen (note: not that I am suggesting you try this. Err... maybe.).
In other words, the market has behaved as it does when it's in a... drum roll please... chop zone:"
"Not surprisingly, given the chop zone of the prior two months, there is no change to the intermediate picture. I still prefer the complex ABC, though the annotation of May 6 remains true for the moment:"
"It's interesting to note that RUT made a new low yesterday (not shown), although SPX bounced shy of its recent low -- because it was required to, in order to fulfill its contract with Goldman Sachs (ticker symbol: GOD. At least, that's what the symbol is supposed to be, according to an internal memo released by Goldman Sachs.)
Finally, no real update to the near-term SPX chart:"
"In conclusion, after the last couple months spent in the chop zone, and after the last several sessions in a chop zone within a chop zone, there's really very little to add to the recent updates. Now it's more a matter of waiting for the market to point the way to its next move more clearly. Trade safe."
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