Market Update

 

As I type, the S&P 500 Futures have been moved right to the short-term stop/reverse line, which is currently located at 2386

 

<rant/>

The Parliament of Whores in Washington DC are tantalizingly close to delivering what their owners desire most… Porkulus 2.0!

In my opinion, this WuFlu nonsense is all about raiding the US Treasury (this is act 2 in the play after the pros netted hundreds of billions in profits in the Quadruple Witching Heist).  The show is now being spoon-fed to a completely subjugated populace, who are forcibly seated (conveniently) in front of their propagandizing devices.  The programming underway is complete with staged theatrics from the Democrats and is all carefully designed to add just the right amount of tension to the performance–which will crescendo to maximum tension just before the glorious release of misplaced joy when the fait accompli is announced.  Don’t be fooled by the Republican versus Democrat pablum… those slithering snakes all serve the same masters.

President Trump, as usual, appears to be on defense in the way he deals with the perpetrators of the ongoing coup d’état.  Everyone keeps wondering if he will grow a set and start to mercilessly slap these imbeciles down, but alas… over three years without a single bad guy being punished does tend to diminish one’s expectations on that front. I will say, though, that IF he is going to do something dramatic–NOW would be a VERY good time to do it.

It would appear that the snakes were again setting President Trump up here for removal from office.  Recognizing that, he appears to have decided to go all-in with the Government Santa Claus (Bernie on steroids) routine that the global socialist left was planning to use to drive public opinion against him.  If my analysis is correct, then it is probably brilliant politics by Trump–but an ongoing tragedy for the world that these evil people continue to operate with complete impunity.

I have the sense that President Trump might just have a giant rabbit ready to be pulled out of his hat.  The man is far too clever and politically astute to be outmaneuvered by the laughably inept globalist dolts, as has been demonstrated time and time again as their plots fail one after another.  I look forward to seeing what he does–and I really look forward to being released from house arrest once Porkulus 2.0 is stolen.

</rant>

 

 

Several of you have sent comments to me regarding the open breakaway gaps I frequently mention in my analysis.  The simple daily bar chart above paints a picture worth a thousand words.

Open breakaway gaps occur when the pros force the futures in a particular direction to influence the cash market.  In that sense, open gaps can show INTENT by the pros.

On the daily bar chart above the magenta lines represent unfilled opening gaps DOWN.  The cyan lines represent unfilled opening gaps UP.

Notice that we have a series of four unfilled gaps down on the chart above.  This whole takedown deal started with that first breakaway gap lower at 3328 on 24-February.  There were then three more of those and it is those gaps that I was referring to when I said repeatedly that this market was being INTENTIONALLY forced lower.

Those magenta gap lines will become major targets if/when this market turns back up.  But in order for the market to turn back up we would expect to start seeing a new breakaway gap UP to show new INTENT by the pros.  Well, look what happened last night… we got our first unfilled breakaway gap UP at 2220.50!

It remains to be seen if that gap will stay unfilled on the next pullback.  If it does and the short-term trend flips higher then the major targets to the upside will be those magenta gaps.  THOSE LINES are where the ready sellers will be waiting to be untrapped from their failed knife catches and that is exactly what I was talking about yesterday when I said the market will either have to chew through that resistance caused by waiting sellers–or else the pros will need to skip over that resistance in order to freeze those sellers and turn them into holders (with profits).

So, let’s keep a very close eye on the first gap UP to see if it holds during the Porkulus 2.0 stage performance currently being presented.  The pros have achieved everything I thought they would on the downside with the OpEx push under 2319.50 support–and then the bounce off 2196 confirmed support on the weekly chart–which was where the original bullish breakout started after President Trump was elected.

A short-term bullish trend reversal will occur IF the S&P 500 Futures closes above 2386 today.  If the new breakaway gap UP at 2220.50 also holds on future pullbacks, we could indeed have a double-bottom set. 

Lotsa if’s still, but this is the very first promising setup since the OpEx/Porkulus 2.0 engineered takedown began.

…my .02