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Reversal?? Tuesday will define
S&P 500 - Shooting star missed confirmation by 1.02 points. Closed above the 50 DMA with failure at the swing with RSI - Positives over 5.6 billion collusion with the Fed and stock markets. Holiday effect (Up going into weekend). Monday, markets closed, so Tuesday will define if the 61.8% is truly a reversal fib or lie
Good trading chart - the 60 min SPX chart
With any major moving average on the daily chart, like the 200 DMA bottom, go long when the MACD reverses with a Blue over red crossover - RSI over 50 is a BUY signal which will confirm the move up - generally you wait for the MACD to reverse, before selling - here is the link
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=spx&time=18&startdate=1%2F4%2F1999&enddate=7%2F22%2F2011&freq=8&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=2&maval=10&uf=8&lf=4&lf2=2&lf3=16&type=1&style=320&size=4&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11&x=0&y=0
Option Expiration - Fed participation $5.6 Billion balance sheet increase this week :),largest gain for stocks since the Trump election. Test of the 200 DMA, Bullish Hammer candle, then confirmation of a buy signal with the cross of 100 DMA, then Thurs. close over swing high and 50 DMA. Last stand for Bears 61.8 Fib at 2742 SPX
re H&S
Yep, but since the right shoulder was larger than the left, I am not so sure about the head and shoulder. It's all about the Yen Carry trade in this made up world :)
Public Charts - http://stockcharts.com/public/3421479
Went over the charts on Saturday on Twitter.
Twitter - @ThinkTankCharts
1797 SPX target
possible channel to target
http://stockcharts.com/public/3421479/chartbook/412564363;
Yen Carry Trade
Liquidity in the markets or forced selling
re BB Tightening big move coming tomorrow? TOM
SPX 1965 break - Down 1995 SPX Up
re Trumpet
The guy is a top negotiator. Never tell the Republicans what you are going to do and get your way with them as you threaten with the 3rd party option. I was talking to the wife of the Democrat Party here and they said they will be voting for Trump. I think people are tired of the country being torn down.
Alan West this weekend, that wasn't shown by the news.
re Mountains
I grew up in the Shenandoah Valley of Virginia. The top of the Skyline drive and the Appalachian Trail was 10 minutes away. A cheap date was to take a girl hiking up to Hump Back Rock. I was a Boy Scout and once went to Philmont Scout Ranch in New Mexico and hiked for a week in the Rockies. Crazy views from up top the mountains there. The nights were pretty starry and the skies during the day were so blue. So agree with you on the views. God's country for sure.
re INTC
I wasn't paying attention to INTC until they reported earning. After drawing the chart, I could believe what I was seeing. They have been defending INTC this week, but it will likely be the beginning of the end for this rally. Never seen breadth with such divergences as now. People are still pretty Bullish even with the divergences.
re Black Swan
We had a Black Swan Formation on the SPX with the consolidation at the 200 DMA, then gap ups with fast price acceleration and gap ups where there wasn't any buying and the gaps continued until the last few days. Generally Black Swans are tops in the markets as Bears give up and there are huge divergences in breadth and as you pointed out with the equal weighted stocks. Apple tonight, which with a gap down of INTC would create a huge Island Top Reversal and a move to 21.
The Response to the US over China halting the sale of 70% of their stock
China: We'll halt 70% of our stocks
US: Oh yeah, we'll halt the world's largest stock exchange
Because it's about lawyers
To think the US government has a Judeo Christian conscience is to be naïve. It's a confidence game. You have the prez, who is the main Con man. The skilled con man, now a polished orator, resorts, largely, to spellbinding prose, a strictly verbal assault on your common sense. So, how do you now detect when you are about to be ripped off?
Listen closely to the language. Hear each and every word penetrating your ears, on into your head, circulating about your cerebrum seeking analytical judgment. When the con man thinks he has got you in his cross-hairs, certain words will spill forth from his lips. Like the intellectual who uses more words than necessary, he will try to overwhelm you with his charm, wit, and charisma, along with his verbosity. When you have the moronic media on your side, just give them a good slogan and that will stop research for 10 years.
The current government has 225 Lawyers and 9 accountants. So all the dumb arguments are thrown out to the general public & news media and the same news media people that have not done any study or have any degrees, but have great legs and faces, give their opinion about different issues, the Facebook junkies report it and the politician laughs as the dopey people.
So it's all about lining the pockets of lawyers. Nothing more. Just wait for the ads on TV, the Huge buildings being built to house all the lawyers that will litigate all the new lawsuits that will be settled outside of court with the slush fund called Obama Care... 9 million people subsidized by 320 million US citizens as they pay the largest increase tax in US history. No wonder the call Trump and Walker stupid and mean.... they aren't lawyers....
Funny how the leftist didn't report the Russian planes over CA and Palin
Our country is in a heap of trouble with the propaganda.
http://www.foxnews.com/politics/2015/07/06/officials-us-jets-scramble-to-intercept-russian-bombers-off-california-alaska/
This is what it is all about right now
The Big Lie
re stock chart Grrrr...
Been using the this chart. Looks like a big move coming up with those BB's. 2018 is the ABC Down target and then the 320.
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Index&symb=spx&time=3&startdate=1%2F4%2F1999&enddate=7%2F22%2F2011&freq=8&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=4&maval=80%2C26%2C16&uf=8&lf=4&lf2=2&lf3=32&type=4&style=320&size=4&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11&x=49&y=9
320 million people in America
9 million with Obama Care subsidies
Supreme Court (Lawyers), Congress (Lawyers), and President (Lawyer) agree that Obama Care is constitutional and needed. The largest tax increase in US history, with insurance cost going parabolic. All Obama Care is, is a slush fund for lawyers and insurance companies, so they can settle outside of court. Every wonder why the bill wasn't read.... All the lawyers knew was it was a slush fund for law firms.
Diminishing returns for law firms that deal with divorce and marriage law because heterosexual marriage has declined so greatly .... Make Gay marriage a law and build their business back up.
To think that the politician has an ethical position is to be naïve. It's all about Money, Power and Sex.