Will The Market Breakthrough Resistance?

555
1903

Thursday Update...

(to watch on youtube: http://www.youtube.com/watch?v=O0dvMgh7oZ4)

Red

_____________________________________________________

If it does, I don't think it's going too far...

(to watch on youtube: http://www.youtube.com/watch?v=mIy0O4kiyd8)

I'm still looking for a least a quick pierce through the current overhead resistance and put in at least a double top around 1308-1310  spx area.  If it pierces that, then it could go on higher to the 1330 area.  The market simply wants to go higher it seems.  The gangsters will continue to manipulate this market until the last days I believe.

Their QE2 POMO money ends in June, and I fully believe that they are going to try and hold it up as long as they can.  That doesn't mean we won't have some down days of course, but a crash doesn't seem likely until much closer to the end of the POMO money... which again, is in June.

Ok, as for tomorrow, I'm expecting a push up in the morning from the 60 minute chart.  Then for it to get overbought in the first half of the day.  Depending on how high it goes, will depend on how long it takes.  There's nothing to say that we are going up to 1330, as we could turn back down tomorrow if the market can't get through the resistance overhead and close there.

I don't know what will happen as the news over Portugal rejecting Government Austerity Measures could scare traders enough to bailout on their long positions fearing a default over the weekend.  The market is holding it together with the manipulation by the governments POMO money only right now, and that will work as long as the volume stays low.  If traders panic some and the volume picks up, then the selling could get intense.

I know that the Illuminati controls the market and the main stream news, but the internet is tougher to suppress... meaning that traders will be reading various blogs and could easily get the news exposed too them, even if the gangsters won't let it out on network TV.

So the point is... I think it's getting tougher and tougher for them to hold this market up.  If they can have an "all up day" tomorrow, then yeah... we will likely go to 1330 for a backtest of the broken trendline from the rising channel that started last year in September.

Of course if the gangsters really succeed in manipulating this market over the next few months, then they could take it up to the 138.86 spy FP before letting it crash.  We have to keep our eye's on the weekly chart as it could turn back up or continue down... I just can't answer that?

For the short term though, I'll be looking for a place to short tomorrow after the 60 minute chart looks tired and peaked.  I'll be watching the 30 and 15 minute chart too, as that should give us the entry spot.  Let's see how far the morning POMO can push it up tomorrow first, as the charts favor the bulls early Thursday, but later on they should tire out and give the bears a shot.

That's all folks...

Red

P.S.  Here's the link to the article with Ben Fulford and David Wilcock...

https://www.kitcomm.com/showthread.php?t=78501).

555 COMMENTS

  1. Durable Goods Orders Disappoint, Fall 0.9% Vs. Expected Gain 3.6%; Jobless Claims Fall by 5,000 to 382,000, Estimates Called for No Change

    Looks like mixed reaction from the market.. falling off a tiny bit while it is getting digested… was that the spike?

  2. red,

    well red, this is my last go at the simpsons clip, and it is simple 3.24.11. (2+4=6) so we have 6.11, and the 3 reflects the three characters in the scene prior, the ones detonating the bomb.

    LOL ~ red this is a very very weak and mostly incorrect analysis of the 6.11 simpsons clip, although i thought i would throw it out here in the comments for a good laugh!

  3. We go our pop folks… now will we drop? I think we could go back up a little more still, but I’m not chancing it. I’m short again. I’ll ride out any up move today, but I think we will close down.

  4. Well, I guess I went short a little too early. I knew there was a possibility that they would push it higher again. Looks like we might be going to 1308-1310 after all.

      • Yeah… I know. But, I said in the video that we should go up to 1308-1310. So why didn’t I listen to myself and wait until then? (banging head on wall here, wanting the best entry spot… bummer)

    • add to that the fact that WTI is over 106$/barrel and you it makes you really question ‘what the bejesus is going on!!!!”

      • given crude prices – this market should have tanked hard. Volume still seems pretty lame… when we fall it should be unexpected and hard. Just look at the VIX – no fear out there right now. La La Land as usual…

  5. these wallstreet pricks are scumbags, you never know what to expect. either too late or too early.

  6. this is whats going on. the fed is putting in the money so fast that the banksters cannot keep up with taking it back out. oh well

  7. like you said Red, any areas met with resistance, they’ll just gap it up and over. how about a “gap and trap”. for now wall street can just use my money to flash trade with, but then I’d like it back pleeeeeeeease.

  8. Perfect example of how the market drives the news…CNBC is blustering how several companies are “driving the market higher on great earnings.” I picked one to look at, ConAgra, and its earnings were lower than last year. So, “great news” is a complete fabrication to fit what’s happening in the markets, and it’s in plain sight. This must have been one of those “Hey Bob Pisani – ask one of the drones behind you why the market is going up.”

    This market isn’t going to break out. Today is a “relief rally” in the EUR/USD nobody wants to talk about for obvious reasons.

    • It’s still possible, but they would have to keep it over for a few days…the last time is closed above, the very next day it crashed thru again and the market was done from then on…plus, the pits say we’ll at least see a test of the lows.

  9. Well gang… all the short term charts look peaked and ready to rollover. But, will they let it? The daily is trying to curl back up and go positive, but it could either way? I think it will breakdown today, but what do I know… I’m just a sheep after all.

  10. hanging around that horizontal resistance on the daily with overbought 30 and 60 good luck with that oh bearded one. the bad news is europe closed strong so we have to, hope im wrong.

  11. stop sweep, let some bulls on, then take er down. Ok boss, you heard em boys. and make it look real

  12. red,

    gangsta’s aside ~ they can only do what they will if they have a colluding posse. we all know these markets are a true fantasy fabrication ~ a farce of price and valuation ~ and yet there is NO real selling. thank you to the money managers of the hedge funds, and the pension funds, and the insurance funds, etc, who are the posse of the ganstas. it is truely sickening that the manager of the funds of retirees and the insured will sell their souls to this fake cause and stay in this market. it is just plain creepy!!

  13. S&P 500 magnet to 1330 getting charged up if it can break that falling trendline from the 1343 peak. 60 min looks pretty tired though. Maybe recycle back to 1300 support then expload through.

    • If we go to 1330, we will go high… like to the 138.86 spy FP (about 1380 spx). I don’t think the market will rollover at 1330, as the weekly and daily chart will have both turned back up and will fuel a new high being put in.

      • Agreed. A close over the 1343 downtrend line = me putting more money to work. The gangsters are gonna run this back up before the QE3 “decision” They will know before we do for sure so it makes sense that they want to run it back up for a double top to get out of their positions OR break it out like Benny tells ’em to.

    • yes it sure is. we are in a bearish trend and the short term charts are over bought. at resistance and vix support. yippy

      • Oh – maybe you were asking what the markets are “saying” … well they are saying “short of WW3 we are going up… who cares that Portugal is failing that Japan has 20K+ dead and a ruined economy/country that the ME is going crazy with violence… just a bunch of “noise” we are going to the MOON and nothing can stop us!” oh… JMHO

  14. so far this is a normal contra trend rally. it happens. the volume on this run up is less than the selling volume on the leg down. nothing to get worried about for now. Moving averages are still in bearish alignment. 30 and 60 charts overbought. you know whats going to happen dont you? there isnt anymore power left in the short term charts to push us over that falling trendline, I hope.
    bounces happen. we’ll see.

    • i agree z,

      with the 30/60 min charts so overbought, the only bounces i forsee has to do with old reruns of pam anderson on baywatch!!

    • shows up nice on the 4 hour. we are even more overbought on the stoch and macd than the previous touch. thanks

      • Unfortunately the daily charts are not overbought – histograms back above zero line, if transports lead then we are heading up… should have bailed on those shorts …. dang, dang, dang 🙁

        • look at the upper resistance trendline on the four hour and tell me that again. dont the faster charts push the daily up, and if the faster charts say they are tired then………
          I noticed my bear etf watchlist hardly went down at all. hmmmm.
          We make a best guess and go with it, right? If we knew then we wouldnt be reading Reds blog. lol

          • Hey ZZB… sorry I don’t have access to 4 hour charts on my charting
            programs… I hope/pray you are right as I am 100% short (in one acct) right
            now. What short etf were you watching? just curious! I read Red’s blog
            because I am addicted to/love you guys 😉

  15. NFLX FP of 123 afterhours…
    I hope some of these mean something – that is like $6 off of the close

    • Actually it is just down not a FP I guess… why would RIMM’s earnings effect netflix? Or if it isn’t that let me know what is going on K.

  16. ES & NQ going crazy after hours. Either they want to push all the indices up like 3% tomorrow or they want to make the buying climax today. I haven’t seen anything like it. There are a lot of “firsts” in this 100% criminally manipulated market.

    • Well, Madman Ben just announced 4 press conferences a year, so that might have something to do with it…here’s the text (for all):

      TODAY TWO LARGE MACRO FUNDS OVER HERE HAVE GONE WILDLY LONG S&P. NOT LONG. WE TALKING 250% NET LONG. IT LOOKS LIKE CONCERTED ACTION ON GDP DGRADES FROM GS AND BOFA ARE THE LETTER DELIVERED TO BEN ON QE3. HUGE DIRECTIONAL BET WITH NEW CAPITAL PUT AT WORK. MOST LIKELY THE TWO INSTITUTIONS ARE COORDINATING ACTION WITH OFFICES IN CONNECTICUT. CHECK INFLOWS OF BLUE CHIP HEDGE FUNDS IN JAN FEB. APPLY 2.5 LEVERAGE. WE ARE TALKING ABOUT SOME 40-60BN PUT AT WORK PRIMARILY ON EMINIS AT THE MOMENT. WHETHER SOME EXTERNAL FORCE WILL LEAVE THEM HIGH AND DRY I DON’T KNOW. BUT IF ANYTHING SEEMED TO BE AT LEAST NOT TOO IRRATIONAL UP TO NOW, IN THIS THIRD WAVE, BE READY FOR REAL ROCK AND ROLL.

      I guess that means QE3.

    • here is what it said:

      TODAY TWO LARGE MACRO FUNDS OVER HERE HAVE GONE WILDLY LONG S&P. NOT LONG. WE TALKING 250% NET LONG. IT LOOKS LIKE CONCERTED ACTION ON GDP DGRADES FROM GS AND BOFA ARE THE LETTER DELIVERED TO BEN ON QE3. HUGE DIRECTIONAL BET WITH NEW CAPITAL PUT AT WORK. MOST LIKELY THE TWO INSTITUTIONS ARE COORDINATING ACTION WITH OFFICES IN CONNECTICUT. CHECK INFLOWS OF BLUE CHIP HEDGE FUNDS IN JAN FEB. APPLY 2.5 LEVERAGE. WE ARE TALKING ABOUT SOME 40-60BN PUT AT WORK PRIMARILY ON EMINIS AT THE MOMENT. WHETHER SOME EXTERNAL FORCE WILL LEAVE THEM HIGH AND DRY I DON’T KNOW. BUT IF ANYTHING SEEMED TO BE AT LEAST NOT TOO IRRATIONAL UP TO NOW, IN THIS THIRD WAVE, BE READY FOR REAL ROCK AND ROLL.

  17. Ok – anyone home/awake? What do you see for today… given this go to the moon scenario so far… looks like we broke resistance… does it hold?

    • dee,
      this should roll over….. short terms are overbought…..but “should” in this market will kill you.

      just had an ‘e’ touch of an ‘abcde’ wedge off the lows, so we will see what it does

    • dee,

      looks like ‘gap’ fill at 1318/19 ~ how sweet for the market to ‘naturally’ go and fill its down gaps…….

    • so, this is just a morning shake out to weed out the weaklings who stand picking their nose? Get em up against the wall- this dont look right to me. lol

  18. Red is probably straped in his chair. look at Europe go. another gap above resistance open. no signs of breaking down is there.

  19. THIS IS FREAKIN COMMAND AND CONTROL STYLE MARKETS.! THE SOVIET UNION COLLAPSED WITH THIS KIND OF RIDICULOUS CONTROL. LET GO OF OUR MARKETS YOU BERNAKE~YOU OLD F***!!!!

    AHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH!!!!! MOTHER F***r.

    (cough)….ok i feel better now!

    now wash, rinse and repeat after me ~ ‘up is good, up is good…..everyone..”

  20. This market is so resilient, so healthy. Talk about v-shaped recovery. The economy must be really healthy. They must know something…like unemployment is going down to 3% next month or every state and the Federal govt just passed a balanced budget yesterday.

    Or I just woke up in Fed World, where the stock market only goes up.

  21. So, can the SPX pull a “Stairway to Heaven” and go up 10 points a day for the rest of all Eternity? It certainly looks like it. Why doesn’t the Fed just release a roadmap and say where the market will open and close every day? That would make my life a lot easier.

  22. The DOW can not break over 12258 if it bust thru it game over shorties.

    looks like we hit 12259 as the high and the dow is falling… we can not close above 12259….. if bears are to survive this.

    looks like they ran out of POMO money today…. or they are saving it for tomorrow.

    • daily stoch is getting overbought territory, lets hope the bears start to leg in. and the fast charts. momentum is tiopping?

    • gold tanking means silver tanking which means only one thing ~ the sucubus from hell ~ blythe masters ~ is having her a bear raid on the precious metals. jpm is so screwed on their silver shorts right now. ……

  23. daily moving averages still bearish, and its been 6 day run up. pull back now into next week could be expected.

    • I was expecting a pullback to EOM too, but I never thought the Dow would blast 600 points up before that. Looks like dollar strength is not doing a whole lot to push the market lower, but it sure has caused quite the reversal in several commodities, according to their plan, is my guess. Portugal is still saying they won’t take a bailout, but we all know they will. That is probably the only thing that may push the dollar higher.

      • All the major currencies put in big reversals…NZD, AUD, EUR, GBP, CAD, JPY…let’s see some follow-thru!

  24. I think SPY 130.89 FP will be a pullback (probably wave 4 target of this wave). So the market chop up to 1325-1330 and then pull back to 1308. Either that or today’s pullback target, but that doesn’t seem as likely.

  25. I just went, very, very short. Call it a hunch. First time I have gone short since the very top previous that Red helped me find.

  26. The volume is sick today… only 98 million right now. Unless we get some catalyst of bad news, we’re not going to sell off very far. Maybe something will surprise everyone over the weekend?

  27. red,

    what i see is that we had a bearish wedge with an ‘a/b/c/d/e’ touch. the e was an overthrow ~ common for this…we should see a break to the base of the move (1249) in a quick move…..the operative word is ‘SHOULD’….if this is another bearish set up that turns bullish ~ then we are not yet in P3, that is for sure…..

  28. Well, I don’t know what to expect for Monday? We are very very overbought now, and should rollover… but without some type of event or bad news, they will likely just dip it down briefly to reset the charts, and then continue up toward the 138.86 FP on SPY it seems.

    We Bears really need Monday to start a wave 3 down, or else the daily and weekly charts are going to turn back and give the bulls enough juice to rally for several weeks at least. So while I’m still bearish, I know these gangsters can defy gravity and keep pushing this pile of crap up the hay stack… only to fail on those standing below it later (I won’t be one of them).

    • I agree with you… without any type of event or bad news… this market will not tank.. and the gangsters will just dip it breifly and reset the longer term charts.. and bulls will make a run….

    • the only thing on the radar beyond the fukushima nuclear plants, and libya, and syria, and yemen, and bahrain, and portugal government going down, and oil over 110$/barrell, is the silver delivery of jpm on monday. they should have delivered all there physical deliverys on this months shorts for the 28th, and as of yet, they are still 3 million oz short for delivery. this has never happened before. that is why jpm was able to become a delivery vault for th comex in 2 days (usually takes 45). this is so jpm can ‘deliver’ silver to themselves on their shorts, and if you are the holder, and want to take physical possession this buys jpm a few more days for ‘paperwork’….

      so you can add this to mondays ~ NO RISK the frickin world has NO RISK~!

  29. red,

    bottom line ~ the powers that be has never had to wait on the charts to do what they desire. they can push the markets up or down regardless of what the daily/weekly technicals read. unfortunately for us it is always in one direction ~ up…..this truly proves how incredibly weak this market/economy truly is. a truly healthy market can take a deep breath without fear. no longer can this happen without collapse. you can keep asset prices artifically high for only so long…

  30. I was just anally probed the the gangster alien George W. Bush. He told me the market would dip a little monday but head up higher into Tuesday.

  31. looks a little weak to me. still low volume on this up leg. bearish candles on the 4 hour and daily charts. all the charts overbought, including the daily. still a contra trend. vix stoch will want to rise again at some point. i’m holding my barf bag of shorts.

  32. Ben and Qaddafi on 2012 ticket? Change we can believe. “Go long or else” will be their slogan-Bastards. why do most leaders turn out to be rotten, no good, thieven pieces of colon droppings! Just wonderin.

    • I was going to counter with, “no it’s more like Madman Bernanke and Satan,” but then I realized Madman Bernanke IS Satan.

      • Yeah. But there are alot more of them bastards just like him operating. So sad to be under anyones authority. I think many people are feeling the boxed in feeling, here and around the world. You know with the day light lies being fed to us on a daily basis. Hello by the way. Just like Richie said earlier, things must be real bad for them to be manipulating the markets and media with obvious bs.

        • It is widely known that you can escape from Mother Nature, and you can utilize her resources wisely and sparingly, but if you ever try to mess with her, your roody-poo candy ass will get smacked down harder than a cockroach under Thor’s Hammer.

          What these jackasses don’t realize is that humans with a sense of right and wrong are a Force of Nature.

          • hi acp, thank you for that post. there is that segment of the population that will kill you on behalf of the powers. I despise them too. they protect authority,not you and i. as for mother nature……i have 40 acres and i think about how to survive with her, not from her. I know what you mean though, i dont misunderstand you, although its easy to over typing. learning what to eat in the woods or in your neighborhood is the best thing one can do. Roots, grasses, twigs, inner bark, birds, insects, worms, mice…And know how to prepare wild water for drinking. I know a little bit about it. Its good to know and see yourself having to do it just in case. your a good man buddy.

          • Actually, don’t you mean that you don’t own anything and there’s no way you would survive an economic collapse, like me? (Hint hint)

  33. closed on 1313…

    we have that A99 hacker attack on Monday, and as Chem Eng, I can tell you that nuke issue will only get worse, as more info becomes available… they messed up big time by using sea water on stainless steel (which hates chlorides), so corrosion on steroids… something is seriously wrong, if that water that burned workers was 10,000 more radioactive, that when reactor is operating??? and it was in turbine room, where there should be no radioactive water to start with… seriously messed up, reactors use ultrapure water, so saltwater is an unknown factor, that managed to multiply radiation 10,000…I don’t know if it’s due to corrosion, or just increased conductivity or both… God help the Japanese…
    also, given the master plan Red is taking about, don’t be like Japanese, so that your drinking water depend on government… I have this small system for my drinking water, what, it’s five stage RO (reverse osmosis), stages II and V are activated carbon with would pick up iodine… http://cgi.ebay.com/5-Stage-Drinking-Reverse-Osmosis-System-RO-Water-Filter-/190450639900?pt=Small_Kitchen_Appliances_US&hash=item2c57be241c
    RO membrane should stop other large radioactive particles…It may not be perfect, but it will be 100 times better than what everyone else is drinking…it works on city water pressure… always have some water purification tablets, and lose activated carbon or Brita filters in case there is no water (only to be used with tablets, not alone as a polisher)… few sellers on Ebay have same system, if you get fancier version with DI, than you are likely to get pure H20… I don’t think it’s needed, and there are even instructions on youtube how to install

  34. what do you guys think of these two inverted hammers in this leg up? I mean they aint little. Yes, we had many on the bull ride up. but, will they be ignored now that we have a bear setting? vix is bullish with the ma alignment and now oversold stoch. two important trendlines got pierced only to fall back below, this just seems weak to me. what funny, is listening to some of you crying we’re gonnna make new highs. there isnt any evidence to suggest that.

  35. see traderdee, cobra is on your side. new lows before new highs. you worry too much. Red will be gone for the remainder of the day, fell out of his chair. but not to worry, we have obomacare. yay. wont cost him a penny. please give me a like if you liked it Red, please. lol

    • Ok – I guess I will have to go to his site and read Cobra’s take on the market – thanks
      I have to quit being logical and thinking the charts will tell me what is going on… as long as the governments lie and the printing press is rolling Bears don’t stand a chance.

    • ok – I missed all that somehow. They “Anonymous” is like Wikileaks… and are going to leak out some damaging stuff on the Fed on Monday? That links doesn’t say much. I feel dumber than a box of rocks asking these questions… I usually am pretty good keeping up with stuff like this.
      Sorry.

  36. I just had an epiphany.

    Corporations can hedge their stock price by keeping stocks of commodities like silver. Geez, I can’t be the first to have thought of that, but damn, I’m sure some will be doing this soon.

  37. When the news comes out about the radiation levels in the US and Canada, well,lets just say its pretty well going to start a panic. The market will definitely crash. The levels NOW everywhere in the US are beyond dangerous according to my trusted sources.

    Potassium iodine is SOLD out. What sold for 18 dollars is now selling for 1,500. Glad I bought a ten year supply. Maybe I should sell it online?

    • What trusted source? I know the media and Japan is lying about the true levels. I haven’t heard about any levels in the US (only Alex Jones speculating on his show) I tell ya it seems that it will take WW3 for this market to go down.

      • Actually, you can get KI tablets from Amazon. There’s plenty of supply. You get significantly more radiation when taking a commercial flight.

        • I bought Potassium Iodide like 8 months ago. The 130mg from Life Extension – 14 tabs paid like $5 for them… saw an auction on ebay that went for over $600! That was one of those panic days…. pays to be prepared… you could get rich off of your stash!
          There is just two of us and I figured one tab a day (that is the dose) for seven days and beyond that …. well…. 🙁

      • Did you watch “The Road” or “The Book of Eli” …. more of the same…sure hope that is not where we are headed.

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