Dec 182013
 
 December 18, 2013  Posted by at 4:49 am

With Bernanke’s final FOMC press conference tonight, does he go out with a bang or a whimper? The SPY and QQQ show bearish setups and no-one really believes the taper tantrum… may be a good r/r short here but very speculative standing in front of the Fed…

SPY – Decision time for the Fed. Classic bearish setup or bear trap?

SPY Daily

SPY Daily

QQQ – Bearish Setup… straddling the sma’s like an Adonis. Awaiting FOMC for breakout

QQQ Daily

QQQ Daily

The near term SPX chart reflects the indecision in the market with both bull (black) and bear (red) counts squarely on the table. The bulls were unable to take the ball and run with it yesterday, so the door remains ajar for the bears.

SPX 15m

SPX 15m

EUR/USD forming a bullish 4th wave triangle of smaller degree targeting new highs. Just in time for the Fed whipsaw.

EUR/USD 120m

EUR/USD 120m

USD/CHF weakness continues and the decline does not count as complete for our canary in a coalmine. This pair remains in sell mode

USD/CHF Daily

USD/CHF Daily

DXI holding the line for now. A break of 79 and nothing but air until 75

DXI Weekly

DXI Weekly

We are obviously at a very important inflection point here in equity and FX markets. The Fed runs the game now, so tonight’s FOMC meeting will likely determine if “santa claus is coming to town”

http://www.youtube.com/watch?v=cU2-xh484_s

Trade safe and watch those Central Bankers 😉

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