03/07/2016 Live Update

[BullBear52x]

strong resistance here, one more buy coupon intraday tho.

[uempel]

So far pink dashed horizontal won't let SPX pass by.

[brokebybernacke2]

its getting close, vix - this pattern shows some big fear potential in the pipeline......

[BullBear52x]

Last stand for short term bears, new HOD will screaming buy on short term.

Intraday /ES 1997.5, cashSPX 200.5key support / pivot. longs stop out on my side.

[JFR]

Building another base.

[BullBear52x]

Here is the chart of short term, Bears are in the house now.

[Al_Dente]

Posted today by Rob Hanna:

[JFR]

Longer term picture, from John Murphy.

CANADA RALLIES OFF SUPPORT... The weekly bars in Chart 10 show the Toronto Stock Index (TSX) bouncing off major chart support along its 2011/2012 lows (after losing 26% of its value). The green Fibonnaci lines show that it has also retraced 50% of its 2009/2014 uptrend, which usually acts as a important support level. The 14-week RSI line (top of chart) has climbed above 50 after bouncing off oversold territory at 30. Its weekly MACD line (below chart) have just turned positive for the first time in a year (and from the same level as their 2011 upturn). Those are all signs of a bottom in the making. That would be consistent with a bottom in commodity prices which is looking more likely. A commodity bottom is already boosting commodity-producing emerging markets in Brazil, Mexico, South Africa, and Russia. All of which should be positive for global stock markets and their respective economies.

[BullBear52x]

intraday clock work.

[brokebybernacke2]

Longer term picture, from John Murphy.

CANADA RALLIES OFF SUPPORT... The weekly bars in Chart 10 show the Toronto Stock Index (TSX) bouncing off major chart support along its 2011/2012 lows (after losing 26% of its value). The green Fibonnaci lines show that it has also retraced 50% of its 2009/2014 uptrend, which usually acts as a important support level. The 14-week RSI line (top of chart) has climbed above 50 after bouncing off oversold territory at 30. Its weekly MACD line (below chart) have just turned positive for the first time in a year (and from the same level as their 2011 upturn). Those are all signs of a bottom in the making. That would be consistent with a bottom in commodity prices which is looking more likely. A commodity bottom is already boosting commodity-producing emerging markets in Brazil, Mexico, South Africa, and Russia. All of which should be positive for global stock markets and their respective economies.

watch march 11 IEA report....

[MrMiyagi]

WE'RE NEVER EVER GOING DOWN AGAIN!!!!

EVVVARRRRR!!!

[Cobra]

kind of ascending triangle, bias still is up.

[Cobra]

WE'RE NEVER EVER GOING DOWN AGAIN!!!!

EVVVARRRRR!!!

[BullBear52x]

WE'RE NEVER EVER GOING DOWN AGAIN!!!!

EVVVARRRRR!!!

Nevar evarrr

[uempel]

its getting close, vix - this pattern shows some big fear potential in the pipeline......

Fear sounds to dramatic - it's insurance and it makes sense.

[Tutti]

Longer term picture, from John Murphy.

CANADA RALLIES OFF SUPPORT... The weekly bars in Chart 10 show the Toronto Stock Index (TSX) bouncing off major chart support along its 2011/2012 lows (after losing 26% of its value). The green Fibonnaci lines show that it has also retraced 50% of its 2009/2014 uptrend, which usually acts as a important support level. The 14-week RSI line (top of chart) has climbed above 50 after bouncing off oversold territory at 30. Its weekly MACD line (below chart) have just turned positive for the first time in a year (and from the same level as their 2011 upturn). Those are all signs of a bottom in the making. That would be consistent with a bottom in commodity prices which is looking more likely. A commodity bottom is already boosting commodity-producing emerging markets in Brazil, Mexico, South Africa, and Russia. All of which should be positive for global stock markets and their respective economies.

watch march 11 IEA report....

If we begin with the premise that a commodity bottom is in fact in place, despite the fact that there doesn't seem to be proof of an uptick in demand with the only proof the squaring up of charts, doesn't that guarantee the fed starts raising rates? The deflation argument would be off the table. Input costs increase, therefore things will become more expensive and lastly wall streets cry that global economies couldn't handle higher rates could now be dismissed by Yellen.

Why would the fed not raise rates? Higher rates would weigh heavily on equities initially and therefore be a negative for global markets (at least the US market)??

Is my logic off or am I missing an element or two in this discussion?

[JFR]

At the top of the base again.

[BullBear52x]

look at /ES short term range of 1984 - 2007.5, it will take couple day to resolve this range, unless market decided lets get over with this run and turning today.

in any case watch my pivot number posted earlier, bears are in the house now.

[JFR]

Pullback in CL.

[Trades with cats]

Tutti-
Right on cue from the vice chair's speech today (from twitter)
FISCHER: WE MAY BE SEEING `FIRST STIRRINGS' OF HIGHER INFLATION

Anybody who doesn't think this commodity thing is crazy look at iron ore pellets and the dry bulk carriers up big time on news China is going to CUT steel production. Managed futures have only covered 1/3 of their shorts according to Gandalf this weekend so there is still plenty of dry powder left for an impressive as all get out rally.