02 May 2016

SP 500 and NDX Futures Daily Charts - The Arsenal of Hypocrisy

Stocks were in bounce mode today, off some fairly decent support below as indicated on the charts. Let's see if they can follow through tomorrow and make a dent in some meaningful overhead resistance, or if this was just a flash in the pan.

The economic news is not particularly good, and the smart money continues to shift out of equities from the statistics that I have been seeing.

That, however, does not mean that the algos will not take a crack at the bear specs if they start directionally leaning to the short side.

I comfort myself in knowing that I have the privilege of never, ever voting for Hillary Clinton, no matter what.   That in itself is a consolation.

Have a pleasant evening.