Monday, February 15, 2016

The New Maginot Line: November 2013

Sliding down the slope of hopium. Gamblers don't realize that Central Banks are already out of ammo...


"The rally belied a string of poor economic data from Beijing and Tokyo"

Skynet is taking advantage of the U.S. trading holiday to retake 1880 in the futures, but that will get sold. Again...

Real-time:



Bulls are now defending a level reached 26 months ago...

The S&P's new Maginot Line is 1810 which has been defended twice in a month, most recently this past Thursday. This new Maginot Line was first reached over two years ago. The old Maginot Line of 1880 which is now resistance, was backtested on Wednesday...



Below 1810 is the free-fall zone aka. "QE3". Here we see that this redline (not the same level as above), which marks "Heavy resistance", is what stopped the January rally: