Morning Audibles 6.3.10 A "Technical Foul"

Basically... Today CV is handing out YELLOW & RED cards...

Basically... Every stinkin' day... The Egyptian God AMEN RA wraps the days activity with some impressive charts... But you REALLY have to look at them to understand how impressive they are... 


It does NO GOOD to just read "Ra's" words and just offer a few typed TEXT of "thanks" and go on talking about oil spills... You have to LOOK at the charts themselves... They tell a story... What story do they tell?


- Is it the story of a "typical recovery"?
- Is it the story of a schizo market?
- Is it the story of QE forever?


Here was yesterdays offering...


SPX
Bullish long day. 1110.02 (fibo .09) is still kryptonite. Midpoint above 10 SMA. Back above the 1.618 fibo (using low) of 1078.87. Back above the trendline using 2010 lows. No daily 3LB changes. Still trending down on the daily 3LB. Currently not confirming the monthly 3LB reversal (it's a long month). QE2infinity.


Here was the chart...

There's A LOT of stuff on that damn thing!


- 3lb's
- SMA's
- candles
- major timelines
- FIBO levels


What else does CV need to say?


I don't know what to "say", but I can surefire tell you what I "see"...


Ask yourself a few questions (there are NO CORRECT ANSWERS to this, INSTEAD, simple hypotheses)...


- Are the Candles trying to stretch back to broken SMA levels?
- Are they trying to regain FIBO levels?
- Have they succeeded (if only temporarily) to navigate SUPPORT LEVELS?
- Can one see (given the proper degree of "vision") future candles and lines on this cart "designing" themselves in certain ways? If so... In WHAT way?


Are there certain points (not EVIDENCED on the chart itself - but what one might insert, by recollect, ONTO the chart)... That might allow the chart as a whole to take on a different perspective?


How does this chart INTERACT with other charts?


- of individual stocks?
- of other broad equity markets?
- of CREDIT MARKETS (which are the "daddy", anyway)?
- of CURRENCY MARKETS (which are the "stepdaddy", at least)?
- of COMMODITY MARKETS (or commodity currency markets)?
- of the political landscape?
- of the "political SPIN landscape" (or efforts thereto)?
- of the "GEO-POLITICAL" spin/landscape?
- of the "data release" calendar?
- of the UNSCHEDULED "data release calendar" (not that there IS one)...?
- of the "PRE-EMPTIVE" calendar (when deemed necessary by TPTB)?


CV has an algorithm to deal with this... 


It's UNSCRIPTED... It's HARDLY "fail-safe"... But it IS... FLEXIBLE... You can not WRITE IT in a program (because ANYTHING scripted is destined to become obsolete the moment the hammer hits the chisel into the marble)...


There are long periods of BOREDOM in markets (punctuated by moments of CHAOS)... Those "moments" usually determine WINNERS & LOSERS (and, in the process, qualify those "Lipper Average Beaters" [whatever the fuck that is supposed to mean])


As for me?... I personally think that the DETAIL of these charts frame the potential for a story... 


The "comments" provide further insight... (unless they are MISDIRECTED)... Not that every moment has to be on topic... Just that the ENDING NARRATIVE should leave you somewhere (and not SPINNING OFF into an unknown part of the galaxy)...