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BofAML Says This Is The Line In The Sand For S&P 500 Downside Risk
Today's JPY-driven opening ramp pulled the S&P 500 off its key trendline but is fading now as once again hope turns to despair and reality. As BofAML notes, while other US equity indices remain modestly constructive after a 2-day rally on nothing, the S&P 500 remains poised for a downside test (and likely break) of its 11-month trendline at 1666 (exposing the August 28th lows at 1627).
Chart: BofAML
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all baked in? bullish? or, bullshit?
The only line in the sand should be a piss line in the sand in front of these bankers beach homes
Low years ago was 666
Now, the trend break is 1666
Ah, the mark of the beast, the Anti-Christ's totem....
EVeryone is planning for a selloff. You know it will not happen
A good many are planning for a rally too. Somebody will be wrong.
Well, one thing is for sure. The monetization continues...
http://www.newyorkfed.org/markets/tot_operation_schedule.html
Slewie? The Pi-rat?
Fed's monitizing continues until the US dollar blows.
Oh yes it will! They're covering their butts here.
'Planning for a selloff' how exactly? I don't see it.
11-month trendline at 1666
The short satan ETF.
Are we do for a Santa rally or Satan Rally?
how will this thing crash with the FED pumping in billions? oh please.
http://www.hussmanfunds.com/wmc/wmc131007.htm
A follow the fed strategy has failed twice before in recent memory. True, the Fed has NEVER printed like this before. So, either a bigger crash or a bigger ramp.
It won't. It's all Bullshit!!!
The Fed's supporting the show. The only thing it knows how to do is print.
Pull the US dollar as the reserve currency is when the real SHTF moment occurs. The loss of control by the Fed moment.
One thousand and 666! the Devil, Satan, Beelzebub, Lucifer ....
Hah, you get the idea.
Good thing Don Kohn's maybe-ness has the machines grinding higher now.
No worries, the machines will save us.
Can you program an algo to run Revelations or the Kabbala?
Or thousands of other old fable books.
S&P500 hourly showed more upside on Friday - instead we got our drop and recover.
http://bullandbearmash.com/chart/sp500-hourly-closes-channel-resistance-...
We use three indexes to formulate a bias - Dow, NASDAQ and S&P. All three have diverged. Dow is weakest, NASDAQ strongest.
Divergences like these often occur at major tops (and bottoms).
it will rally when a deal is made, BofA CEO met with 'bama didn't he? Maybe they know for certain there will be a deal and when.
..or maybe thats what they want us to think to try and control the market slide
Cue the talking heads equating the stock market to the economy, and the "horrible consequences" if they don't blow more money on Wall Street by raising the debt limit.
Never any consequences for anyone or anything but us 99%'s.
'Line is the sand for S&P downside' is 2% or so lower than all-time record highs?
Worst fake manufactured crisis ever.
Maybe it's a "red line".
And just like clockwork the PPT comes in to hold the ES 50day avg. @ 1675ish. Excuse me while I go pry my fingernails off...
ES not even in any danger of closing below a 50 day avg for fucks sake.....worst fake crisis ever.
If Barry doent get his way it will crash. If he does it will crash.If Ben doubles down it will rally. simple as that.
"...if Ben doubles down..." You had me at Double-Ds. ;-)
You mean if this gets 'really bad'...we might even see 2 month ago market levels, with ES -10 lower than here? My gawd!
That's simply unacceptable....I demand that more generations further down the line be put in total debt slavery to stop this travesty of a possible lower market!
and now the running of the shorts, 3:15 to 4:00 est, what a show what a show
So a drop back to 1675 means what? Only a 13% yoy gain?
Terrible. Those goddamed republican thugs.
Lol Dan Brown could have been an analyst.