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Sooooooo……..I thought all those trllions of dollars that Bernanke sent us into debt for were to keep interest rates low? Looks like the trend is reversing pretty hard. Well, don't worry. I'm sure higher interest rates won't be a problem, given the $16 trillion in debt that we owe. Oh, wait a second…..
The gentle rising channel I was looking at yesterday on the ES 60min chart is still holding this morning, with channel support and resistance in the 1460.5 and 1481.5 areas respectively. ES is making marginal new highs and lows and I won't be looking for significant downside unless ES either gets near to channel resistance or breaks channel support:
I was going to give this post the subject line "Shit Or Get Off the Pot", but I was afraid I would offend someone (oh, wait a sec…….oops.) In any event, the reason for either title is easy enough to understand with one glance at the S&P 500 for the past four freaking days:
Originally published on TheTechTrader.com.
Boeing's long-awaited debut of the DreamLiner seems to be going over – if you'll pardon the phrase – like a lead balloon. As airlines have decided to ground the new plane, what with its electrical malfunctions and unexpected fires, the stock of Boeing is likewise succumbing to a bit of gravity. The technical problems with the chart started months ago, when the supporting trendline was violated. I'd say the highs may be in for this stock for a while.
