HAHAHAHAHAHAHAHAHAHAHA - Not in front of POMO you don't!
Why do I like this chart so much? See the bunch at 2:35? Bingo! The DOW is not happy at all about something (DIS).
How is your favorite index doing? Interesting hooks there at the end.
SPX 5m - Triangle. could get interesting to the downside if it cracks, but this is a reversal pattern to me and measures to fill the gap if it goes up (in a pre POMO pump).
Crude Oil - OB, I hope for your sake it does not break out. Other than that worry I like your call.
Minis 15m - Descending triangle? Support at 1201. resistance at 12 and 16. Larger wedge support (off the bottom) is near 98. I have two more diagonals near 95.
/DX - dollar futures - Daily
CSCO throws a wrench in the Fed's engine. Perhaps more proof the Fed was so damned committed to doing QEII is the FACT that everything sucks and is not near as good as they have been leading everyone to believe. Crisis management is no way to bring a nation (or ravished global financial system) back to prosperity. That is all we're getting. This is further proof us bears are on the right track and need to stay the course. I still believe in the power of fraud, manipulation and POMO, so we have to keep an eye on both sides of the equation. This is going to be interesting for sure early next year. I still contend they will not let the markets make any significant moves until after Xmas.
Minis down 6 at this time just off the lows at 1208. 1201 was the low yesterday. 12 and 16 are the resistance levels. Tough call on the form as the moves have been very choppy. At best I can make some sort of wedge or triangle that has price simply consolidating around 1208.
More later.
