Wednesday, November 7, 2012

What is next? Stagnant growth and inflation? tick tock

1 hour CL - note the upside down
horseshoe pattern 
The forgone conclusion has come and gone. Clearly the markets are unhappy as they plunged the most in a year on "German PMI". my ass.

The levels which were broken today damaged the charts technically. With the floor being 1384 in the front month contract of the S&P futures, immediate support is @ the 1390 level.  IMO 1390 has become the new 1410 for the time being.... Trade snap shots, do not bet what this market do from week to week.. no one knows.... well someone knows, just not us.  
30 min SPX
Daily SPX
Lets hope our leader puts his ass in gear and gets some things accomplished.. just do SOMETHING besides increasing government. Throw the private sector a fucking bone between your hip hop parties and golf rounds.