Tuesday, April 19, 2016

Now is about the time we start game-theorizing on the upcoming Fed meeting

Or do we ever stop?

We have plenty of room on the larger channel for a nice wave 4 low into FOMC.  Janet will bring liquor and firearms.

SPX 04-19

And afterwards?  2008 redux, of course.  But I don't think we'll make new sub-666 lows.  This will upset a lot of people, but we're looking at support that runs back into the Reagan years.

SPX 04-19 10Y

7 comments:

Bryan Franco said...

Whaat? CG. No. But Prechter is still saying S&P to 400, right? Time for a new blog. Smile

Hugh Jazole said...

Wow, getting crazy overbought here.

Hugh Jazole said...

Took another nibble on SDS this morning. What? Me Worry?

Stair ClimbLunatic said...

We're definitely going sub-666, because ZERO is much lower than that.

Bryan Franco said...

CG - I am not at my screens. But I think there is an unfilled gap in the S&P cash index somewhere around 800. Maybe the gap fill and trendline coincide.

Christian Gustafson said...

We are starting to see some important bearish divergences out there.

observer1357 said...

Hi Bryan,

I checked the charts on the S&P cash index. I found 2 gaps from 2009 that haven't filled. The first one is the 810 to 820 area and the second one is the 910 to 920 area. I'm not sure if those gaps and the trend line CG see coincides or not. However, I just wanted to confirm you are right about the gap around 800.