Sorry bout yesterday. Saturday morning I messed up my back, and I guess all the action out here in CO really killed me. I slept literally for 16 hrs. I rolled over and saw it was 9:30 and threw a post up and went back to sleep. I missed all the action Monday.
OK, I’m up and moving this morning, somewhat, I’m a bit out of touch with reality having seen very little news since Friday. Pretty sure I don’t have to go far beyond the dreadful headlines to figure out what’s going down. I do have a question – If fear sells, can the MSM be controlled as well when the SHTF? What will we be allowed to see? What will the rest of the most interested onlookers (the rest of the PIIGS) be allowed to see. How will they be able to contain the news and the raw fear that will follow?
I’ll get my bearings back today and tomorrow.
On to the lie –
SPX Daily – Well that was a quick trip. My fears of the low point and sell stops under 2062 were tested yesterday with the 2057 low. Futures up this morning cause that’s the cheapest place for the PPT to do their dirty work. It’s pretty much gut check time for everyone. Price is in no man’s land about to test the 200 DMA which generally generates a “Bullard” moment. How quickly do they play the QE4 card is about the only question I have. The holiday ramp is in question, or is it? It’s the fed’s move now.
All eyes on the 200 DMA. They showed little control over the fall yesterday. Maybe they just saved their powder for the critical point? Bottom line is, they save Greece one last time or we’re entering a place that we’ve never been before.
I’m prolly gonna whip up a few new charts.
SPX Monthly – This looks like fun!
Freedom watch –
I really don’t want to think about Freedom this week. I guess that’s something I’m going to have to deal with, like it or not. The poor people of Greece are in hell right now. I suggest you pay close attention to whats happening on the streets there. Don’t you dare discount the fact that what’s happening there will not come here.
More to come below.
Have a good day.
GL and GB!
SOURCE: Shanky’s Technical Analysis and Market Commentary – Read entire story here.
