Good Morning – Today is Series S2L and the SPILL IS UP. The weekend was spent getting the INOCULATION piece “The Gathering of the Animals ” out the door. This week is going to be all about the FED ON WED. and its’ ensuing reaction for the Expiration Friday and into the following Monday. A ‘crash piece interpretation of a large house analyst has been making the rounds from said ‘well known’ perma bear site. See Zero Hedge site and Marko Kolanovic, JPM analyst piece.
If you know it, the FED knows it. If it occurs then the Fed has lost control. If it happens then the targets are 1890 cash. 1820.66 break, 1788 cash, and finally 1682 cash (ala Oct 16-19 , 1987). While conditions ‘may exist’ I will remind everyone emphatically, betting against the FED when they know something in advance has not been a high odds bet. Cashing a ‘known event’ lottery ticket in this business is very low odds imo and certainly not something I would devote much of my equity expressed as a percentage exposure to in any event. Your call, not mine.
Without going over Friday blow by blow, I will say “I could have stopped posting at 9:40:49 and the day was nailed”… Tomorrow I will deliver a couple of SPOTS charts showing the SEAMLESS transition as regards SPOT efficacy when transitioning from Dec. Front month to March 2016 front month. While we do not know what Sunday was on a calendar cycle, the lean is S2L NORMAL and the the BULLS need that normal badly. REMEMBER to mark down the WEEKLY PIVOT @ 2026.1 as it is the 2025.5 SPOT that was given on Friday as so critical. Updated shorter term chart in addition to the SPOTS charts will also be disseminated tomorrow.
SPOTS TA ROUNDIES…If I am wrong about the lean we will do an a.m. high to last hour low if things are ‘normal’ and if I am right about the lean then we will do an a..m low to last hour high on the NORMAL Below 2004.5 spot we have 1998 (50 cents off the Dec TRAP BUY TERROR LOW ), then 1994 spot tied to the stop run of the cash big roundie if it occurs, the 1989, 1983, Fwiw 1990 roundie is in March 2016 pricing the same as 1998.5 trap on the Dec 15 contract from the Buy Terror low. We will be setting up the JUMP BALL close for tomorrow and the JUMP BaLL price for 1:59 p.m. Wed. –only 1 chart in the box, the 26 min chart and it would be prudent to locate the PEEAN TRAPS and at least be aware of them pre-RTH..FV -9.30 S2L NORMAL 12/14/15 MARCH 2016 contract.
DAILY WEEKLY
PIVOT 2008.9 2026.1
S1 1992.8 1975.6
S2 1984.4 1949.3
R1 2017.3 2051.8
R2 2033.4 2102.3
MAX H 2041.8 2128.0
MAX L 1968.3 1899.4
Range Projections