SPX 4 open island gaps - simply amazing stuff. Black rectangles.
1:15 - VIX LOL chart - Yes, it is still green as is the market.
RUT 4 hr - this does not look good.
10:30 - Possible wedge down here if the lower diagonal is right.
DOW LT Chart - Dow has crossed the upper (pink) resistance line.This is either bullish or a sign a top is near.
10:00 - The wedge - Price is no doubt consolidating and the bears almost every day seem to be growing stronger. I'll refer to that blue diagonal wedge support if we get there.
9:45 - SPX 1m this morning. Tiny island gap just above 49. Might be forming an ascending triangle.
Minis since the close -
Chart I had on the big blog this AM.
SPX - It is all coming together TECHNICALLY. Red is the upper bear market diagonal off the top in '07 over the top in April. The blue line is the diagonal off the lows in October '09 that has marked the lows and highs since. The 1150 resistance from the major top in January. Throw in the current wedge and the overbought daily conditions plus the C=A at 1158.75 off the 1010 low and you have a nasty brew for a top. The battle with EOQ, POMO, QEII, election season, manipulation and all the other levitation voodoo crap they are throwing at the markets will make this call interesting. I'm still in the "need a catalyst" camp, so this one may extend. Who the hell knows these days? One thing is for sure, it is gonna take something supernatural to bust all these technical signals (sadly they have this capability).
