Technically Speaking Update 4 - mytrbroadcast.com

Here is the latest in my series. It is as of the cash close on Monday. As one can clearly see as the “markets” await the Fed decision on Wednesday, for nearly two weeks it is doing nothing more than what I’ve coined “screaming sideways. To wit:

For some further clarity as to what I mean by “Technically Speaking,” from a technical analysis perspective, it’s the pure mechanical machinations of repeating patterns whether on a large scale or smaller. This becomes very pronounced when the machines are doing nothing more than trying to gain territory but there’s no there there to do so. Here’s an example using the same market only shown via the S&P 500 E-mini™, aka futures or overnight session. Again, to wit:

Here’s an update of my prior via hourly increments…

And here it is zoomed in via 15 minute increments, both taken ~8:30am ET…

As you can see, regardless of the time frames, the movements are nearly identical. The issue here is all it takes is one sudden move either way caused by a report; something in Asia (aka Japan) or other and it’ll be off-to-the-races or abandon ship! Here, we should see by Wednesday afternoon or so what the final move may implore for the much anticipated “Santa Rally” into the year end after the Fed decision.

I’ll just finish with what I’ve reiterated far too many times to count…

“Regarding Central Banks: Never has so much power been wielded over an economy by so few people since the time of kings.” -Mark St. Cyr

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