Posted: 21 Apr 2016 06:17 AM PDT
Not much changed since yesterday. No clues here.
MACD’s are flat-lined on many time frames. Again, no clues to the next direction.
At this point gang the only thing I have to go on is that I think “they” want 5000 on the Nasdaq Composite Index before they rollover and start the next correction. Everything else is here, like the fulfillment of the 210 SPY FP, the current Legatus meeting, a “Doji” close on the daily chart yesterday (SPX), a “Massively” overbought chart”, a rising wedge that near the Apex end of it, large accumulation of VIX calls by insiders over the last few days, record low daily volume (indicating fewer and fewer buyers), and of course the pierce of the even number 2100 (on both the ES Futures and the SPX cash). So, we just need some bad news or event to get the ball rolling down the mountain now.
As we all know they never make it easy for the bears. They dance around the top sometimes for days just to get us to throw in the towel and go back to our hibernation caves. While I’d love to tell you some technical reason in the charts to indicate we are going down today to hit some level of support, but I can’t. Charts are useless during extremely heavy manipulation periods like right now. You just have to accumulate some small short positions each day to average yourself into them as you know it’s coming, you just don’t know the exact day.
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