September - Just as a reminder. Just about the same pace out of the gate here in December with a few more gaps.
Dollar - that 4hr bearish engulfing is not good at all for shorty. While that lower BB is supporting price here that MACD looks sick and is a ways from turning.
Gap central with fibs. Stalling at the island gap.
Listening to CNBS make me want to puke most of the time, but especially this morning with Liesman psewing his employment bullshit.
The 30m charts were almost there at the close yesterday and should be ready for a turn here. We all remember the umpteen negative divergences blown thru during the POMO lite period (the unofficial QE that never existed but it did after QEI stopped and they had the failed pulling liquidity experiment after the April top). Can it happen again? Sure it can. Anything can happen in the land of fairy tales and unicorns. I'm hoping for some sort of corrective on the SPX to the 1200 to 1195 area, but that is it for now. Price appears to be channeling (possibly a base channel?) on most indexes.
I do believe the bears got screwed yesterday by pure manipulation. I do think they (the Fed and Treasury) know the counts and follow classical TA and know when to intervene. They have now changed the game yet again, they are in the process of reversing the daily indicators and have halted the fall at this time. POMO is back in play. Where they took the first month of POMO no one knows, possibly to the EU or to the muni market.
