Visualizing The Saturation Of Hopium

As the S&P 500 oscillates in a 20pt range this week between its 50DMA and the 4/23-4 Bernanke Hope lows, it is becoming increasingly clear that the breadth of the hopium-infused float-all-boats new-normal reality is seriously fading.

NYSE net new highs is fading fast as the S&P clings to hope...

in a tight band between 50DMA and Bernanke's Hope Low...

Chart: Bloomberg

Comments

[bdc63]

BooFuckinYah!

This round is on me -- 'hopium on the rocks' for everyone!

[resurger]

cheers

[HarryM]

The weak showing today speaks volumes

This is all they got left ? Holy Crap. I was expecting +100 finish.

Cracks ARE starting to appear

[bdc63]

DOW closes up 19 ... well I guess they nipped that '7 down days in a row' boogeyman in the bud ... hopium abounds ...

[YesWeKahn]

Bernanke is our only hope. Bernanke, don't get crashed by a car!

[Seorse Gorog fr...]

"Help me, Ol' Bernanke. You're my only hope."

http://www.youtube.com/watch?v=xIFJLMyUwrg

[Goldilocks]

He will take care of you
http://www.youtube.com/watch?v=1ZN10o2BJ1E#t=1m22s (3:59)

[Vince Clortho]

Obi wan Bernanke?

[derek_vineyard]

there are plenty of bernankes-in-waiting to replace him

[THX 1178]

http://www.youtube.com/watch?v=gXLJElH_OR4

[Cdad]

Just pull up a short term chart of any S&P company that has already reported.  With few exceptions, all of them have tanked post earnings release.  

You would think that, at some point, the S&P would actually notice that its components have fallen apart.  As such, the SPY is currently priced for stupid.

[ebworthen]

QE3 Page for the Bernank.

July?

End of twist and a drop in markets will send out the signal, Ben probably has it on "vibrate".

[Chuck Walla]

QE3 Page for the Bernank.

July?

End of twist and a drop in markets will send out the signal, Ben probably has it on "vibrate".

And its in his front pocket cuz it gives him a hell of a stiffy when he sells out the little peons.

[nobusiness]

But, But What about the June meeting and QE3.  Hopium lives!  Do not panic.  Crony capitalism will continue.

[tahoebumsmith]

You can only play patty cake with yourself in the mirror for so long before you start hitting yourself in the face...

[MountainMan]

God bless the Bernake,

[Piranha]

there goes the euro

[Goldilocks]

Clarke & Dawe
http://www.youtube.com/user/ClarkeAndDawe

Clarke and Dawe - General Knowledge
http://www.youtube.com/watch?v=b0rgzouAEbI (2:35)

Clarke and Dawe - A Great Man in a Crisis.
http://www.youtube.com/watch?v=cD0vNWy_a8M (2:40)

Clarke and Dawe - The Public Life of Australia (It's going nicely)
http://www.youtube.com/watch?v=ek3FK53nyuQ (2:38)

[michaelsmith_9]

A big warning sign for the markets should be the USD as it continues to set up a big push higher, which will likely result in a move lower for the stock markets and commodities.  I like the bullish side of the buck right now.  http://bit.ly/JigUAM

[EscapeKey]

Well, earlier today we were treated to the good old "markets are oversold" bullshit, on the basis of the DJIA having lost a successive 6 times (or so) - yet, the Dollar index has been up 9 days in a row, and no calls have been made that it's "overbought".

NEW YORK (MarketWatch) -- The U.S. dollar turned higher versus the euro on Thursday, pushing up an index of the greenback's performance against six major currencies for a ninth straight daily gain, its longest since August 2008, as the U.S. credit crisis deepened and an 11-day gain came as the U.S. tried to save Fannie Mae and Freddie Mac. The dollar index DXY +0.01% turned up to 80.113, from 80.083 late Wednesday. The euro EURUSD +0.1003% bought $1.2951, erasing a gain and from $1.2954 in late North American trading Wednesday

[orangegeek]

Elliott wave count for the SP500 looks bearish.

http://bullandbearmash.com/index/sp-500/daily/

And Apple is part of the SP500.

[bobola]

Tyler,

Thanks again for the side-bar T-shirt ads.

This is so much better than Beck shilling overpriced silver.

[newworldorder]

Hopium is a very powerful drug for the professional money managers, traders and all those in the know. Since most individual investors invest through proxies in the form of mutual funds, ETF's and not through individual stocks, the indexes are all that matter.

As long as Bennie and the Jets can protect the indexes all is well as most of the population is clueless as to the true nature of our financial health.

[Piranhanoia]

But they're all giving out dividends? 

[NotApplicable]

Saturation?

But Hopium is all we've got left!

[Aductor]

Horrible price action today. Bulls had every opportunity to rally, and it just petered out.

[Nobody For President]

Bull rally pooped out at 1300ish, at close PPT desperate to keep the DOW green, gonna be real, real close...

Art's last 15 minute volume surge in very full force - what a manipulated farce this so-called market has become.

[trampstamp]

I've been making a ton of money buying the dips. Keep it up Bernanke! You're my hero... until your not

[pissing_excellence]

Butch Patrick: "What does make sense is putting your children in the hands of Mr. Kidkill here."
Mr. Kidkill: "Please, Larry. Larry Kidkill."

[jmcaule4]

KWN: Stocks to Crater 27%, Bonds to Rally & Gold to Remain Firm KWN: Greyerz - Investors Need To Be Positioned For More Chaos Zero Hedge: Faber Sees A 1987-Like Crash if U.S. stocks rise without QE3 The Big Picture: Regressing To The Trend Line