Seven charts telling us the selling is over..for now

Friday at the close i posted here that i was buying in the midst of the panic selling we were seeing.

Think back to the pre-Bullard correction of October 2014. We went from what i see as Blatant fed-juicing of the market with VIX selling near obvious resistance levels, last 30 minute equity futures ramps and all the other usual tricks..to ZERO. No mysterious intervention of any kind, then the subsequent correction. All Intentional. Then once the number was hit it all came back first by first wheeling out Bullard to tell us everything is ok. Then the monster rally all the way to Jan 1st.

This time all the same… No Vol crushing, no mysterious ramps on no-volume.. We’re now at 10% correction and i smell some creepy fed types blessing us with their soothsaying presence come Monday..and it all starts again.

ASIA WILL CRASH MONDAY ON THE OPEN!!  No. As we speak PBOC is planning a intervention blitz for Monday’s trading session. Maybe a slight follow through of the Western selling on the Asian open then as US equities hold their ground buying comes in..  My opinion..

And here’s more of the technical case.

Emini S&P Futures

post-es2

 

Nasdaq Futures at Support

post-naz2

 

10 Year Notes at Resistance

post-zn2

 

Russell2000 Futures at Support

russell-greg

 

WTI Crude Oil

post-crude-weekly2

 

Dow Transports

dow-transports

 

And to totally Geek-Out, here’s Arms index

Chart from @bobbrinker twitter feed.

trin-brinker

 

To summarize.. The air has been let out and guessing one more up-leg left in this bull market..

 

 

 

The best charting teacher I know:
The Morning Analysis Service by Paul Coghlan
Facebooktwittergoogle_plusredditpinterestlinkedintumblr

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>