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Dow Hovers At Key Resistance

Submitted by Tyler Durden on 10/18/2013 09:51 -0400

The Dow has been the laggard in all the recent exuberance and opened down this morning once again (as IBM slips a little lower). It seems the 15,380 ("Summers is Out") level is key resistance for now...

Meanwhile the S&P is up 5.7% from its lows last week and bumping against resistance of its own...

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Fri, 10/18/2013 - 09:53 | 4068475 spastic_colon

O/T Let’s have some Friday fun……..I’ll start

“You know you’re in a bubble when………………”

You get headlines like this…………..

Barron’s Headline “When a Miss Doesn’t Matter” (re: Chipotle CMG)

A must read and sums up the entire equity market.

Fri, 10/18/2013 - 09:57 | 4068487 Rory_Breaker

OT: Excavation begins for 1000 tons buried gold in northern India after a seer dreams about it

http://businesstoday.intoday.in/story/gold-hunt-unnao-up-fort-shobhan-sa...

Fri, 10/18/2013 - 10:12 | 4068536 flacon

Indians dream of gold, Americans dream of jeannies.

Fri, 10/18/2013 - 10:08 | 4068521 ebworthen

Chipotle is the poster child for unbridled expectation chasing.

Meanwhile, Google tops $1,000/share.

Fri, 10/18/2013 - 09:55 | 4068478 LawsofPhysics

Please, technicals do not matter in this printfest "mark to fantasy" market.

Personally, I am long black markets and sharecropping.

However, may I interest you in some crack...

http://www.marketwatch.com/investing/Fund/FAZ

Fri, 10/18/2013 - 09:58 | 4068488 eclectic syncretist

It's all fun while the ponzi's in full swing.

Fri, 10/18/2013 - 10:03 | 4068501 slotmouth

Technicals don't matter? Technicals and money printing are the only thing that matter since the market has clearly thrown fundamentals out the window.

Fri, 10/18/2013 - 10:15 | 4068544 ebworthen

Reminds me of the time I was in D.C. and 12 year old's in hoodies were walking up and down the sidewalk not turning their heads or getting eye contact repeating under their breath "Wan'sum crack? Wan'sum crack?".

Fri, 10/18/2013 - 09:55 | 4068482 Max Damage

VIX getting hit again by the algos

Fri, 10/18/2013 - 10:25 | 4068600 B.J. Worthy

That toilet's eventually gonna overflow no matter how hard they keep pressing down on the lid.

Fri, 10/18/2013 - 09:59 | 4068489 spastic_colon

PS - GOOG +100 along with all other manufacturing renaissance companies YELP, LNKD etc

Fri, 10/18/2013 - 10:01 | 4068492 tawse57

How any ordinary person can invest in these markets now is beyond me - you either have to be stupid or have balls of steel IMPO!?

I have no idea where this is going - it could waterfall like 1929 any day now or it could be DOW 20,000 by Christmas.

I feel like a rabbit caught in the headlights.

Fri, 10/18/2013 - 10:09 | 4068524 Grande Tetons

Maybe the Titanic can make it to New York this time.

I will not be a passenger.

Fri, 10/18/2013 - 10:01 | 4068493 NDXTrader

Resistance? The market laughs at you. Partying like its 1999

Fri, 10/18/2013 - 10:02 | 4068495 Tsar Pointless

S&P 1740. And it's only 10 a.m. here in the east.

Fri, 10/18/2013 - 10:02 | 4068499 jubber

IBEX 10000 Europe is saved !

Fri, 10/18/2013 - 10:03 | 4068500 Dr. Engali

Resistance is futile to the Bernank collective. You will be assimilated.

Fri, 10/18/2013 - 10:07 | 4068514 tawse57

We've been assimilated. Then they reversed the Borg cube over us half a dozen times before flying off to Risa with all of our cash.

Fri, 10/18/2013 - 10:10 | 4068529 eclectic syncretist

For the cost of a share of google (over 1,000/share this morning) and another of chipotle (about to hit 500/share) you could just buy and ounce of gold and have a couple hundred left over.

Fri, 10/18/2013 - 10:20 | 4068575 tawse57

Yeah, but what happens when that mystery buyer/seller decides he/she/they/it wants to off-load 2 or 3 billion worth of gold in 10 minutes again?

Shouldn't I wait until they have pushed gold down to a 1,000 bucks?

Fri, 10/18/2013 - 10:04 | 4068502 ebworthen

Love fest over at CNBC for Maria Bartiromo's 20th anniversary. All time high's just in time!

I suppose every propaganda campaign needs a Tokyo Rose.

Fri, 10/18/2013 - 10:06 | 4068509 Dr. Engali

I wonder if they'll have a walk down memory lane, and give a who's who that recieved a Buttiromo blow job.

Fri, 10/18/2013 - 10:07 | 4068515 thismarketisrigged

goog just hit 1000, lol.

i am listening to peter schiff now, i need some reality talk, not this cnbc bullshit

Fri, 10/18/2013 - 11:12 | 4068810 walküre

PCLN got there first. They really want the muppets back!

Fri, 10/18/2013 - 10:08 | 4068519 NDXTrader

The real question is at what level does the Fed start jawboning the market down. My guess is S&P 1950, but I think we'll overshoot that

Fri, 10/18/2013 - 10:09 | 4068522 monopoly

Just beyond words. Nothing to say.

Fri, 10/18/2013 - 10:09 | 4068523 B.J. Worthy

Oh no! How can we BTFATH if we're not at TFATH? The only way to get there is to buy!!

Fri, 10/18/2013 - 10:15 | 4068555 buzzsaw99

btfd every time or be poor bitchez

Fri, 10/18/2013 - 10:25 | 4068602 edifice

For posterity, I"ll say this: DOW 20,000 before this Hindenburg Turd flops. Bitchez.

Fri, 10/18/2013 - 11:02 | 4068778 Ying-Yang

IBM = China vs NSA put

Fri, 10/18/2013 - 11:11 | 4068807 walküre

Lenovo buying BB is what's going down. Adios AAPL and Samsung! Lenovo's BB will flood the markets at $20 a smartphone, $50 a tablet.

Fri, 10/18/2013 - 11:37 | 4068916 orangegeek

S&P's up over 21% YTD.

This is what 85B a month will get you ....oops....forgot the 17T in debt.

This won't end until interest rates rise - we saw some of that already. The Fed is buying up 1/3 (up from around 20%) of all bond offerrings.

This will end ugly. It's just a matter of when.

Fri, 10/18/2013 - 13:06 | 4069324 bdub2

'99 had no where near this level of liquidity projectile diarrhea'd and shat all over every market across the globe.

This Market bubbles up higher than anyone can imagine, and for longer...

Dow Hovers At Key Resistance

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