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Recently, I found a favorite new thing to listen to in my car: Hitler Radio. I can’t get enough of it!
Now, don’t get excited. I haven’t let me hatred of Lloyd Blankfein, Janet Yellen, and Gary Cohn get the best of me. There is a very innocent explanation for all of this.
You see, a favorite comedian of mine, Norm MacDonald, has a new NetFlix special called Hitler’s Dog. I watched it and enjoyed it, and when I was driving around in my Tesla a few days ago, I shouted out to the voice recognition system, “Play Hitler’s Dog”. I didn’t expect there would be any audio available yet, but it was worth a shot. Instead, I got this……… (more…)
I was saying yesterday that my preferred target for this rally would be a backtest of the daily middle band on SPX. That’s now at 2388.50 and the high today at the time of writing is at 2384.41, so obviously SPX is now in the backtest area. The 60min buy signals on the SPX, ES, NQ & TF charts have now all made target and this is an obvious inflection point. On a reversal back down here the next target on SPX is larger double top support at 2322. On a break above with confidence the obvious next target would be a retest of the ATH and likely marginal new ATH.
Are there reasons to think that bulls may drive SPX through resistance here? Yes there are. Firstly the action so far on SPX/ES is very trendy so far, and I have valid IHS patterns on ES, NQ & TF that are all pointing higher, though in the case of ES that’s only marginally higher to the weekly pivot at 2390.50. (more…)
The wonderful but all-too-brief drop we had this week has had, in retrospect, an absolutely perfect bounce. What’s remarkable – – and I want to stress this – – is that the trendlines I’m about to show were drawn well before the drop even took place.