Daily Archives: November 28, 2012

Sea Change

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What Used to Reliably Move the Market Higher 

+ Europe announcing that it had saved the Euro;
1128-yellen

+ Bernanke giving a speech;

+ Obama reading his Telepromptr;

+ Apple announcing a new version of a product;

+ That disgusting skank Yellen opening up her filthy hole

What Now Precedes a Sharp Downturn

+ Europe announcing that it had saved the Euro;

+ Bernanke giving a speech;

+ Obama reading his Telepromptr;

+ Apple announcing a new version of a product;

+ That disgusting skank Yellen opening up her filthy hole

Downside Targets (by Springheel Jack)

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I was saying yesterday morning that the short term bear scenario seemed more likely to play out on balance, and it has been playing out since. I'm seeing some positive divergence on the ES 15min RSI and it's possible that a low is being made in the pre-market, but on balance it seems likely that we'll see lower today. On the daily chart I would ideally like to see SPX hold the middle bollinger band at 1394 on a closing basis for the bull case:

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