Today Could Be The Day

Yesterday's dips were well bought.  I was wrong in my assumption that 1345 could be re-tested -- the pattern that I saw never materialized, so onto the next one.  The market still wants 1380-1400.  Internally, however, it is having doubts.  Today could be the day it figures out a few things, like how high it wants to go.  Today could be the day the bear claws come out along with the ultra short shorts.  Today could be the day.

For now though, everything's a go.  The overnight session was strong.  The pre-market is too, but doubts are creeping in.  It seems the market is feeling and sensing the fact that it's approaching multiple trend lines and Fibonacci levels as it nears the 1380-1400 sell zone.  There is also a looming harmonic pattern, a bearish Gartley at 1380-1385.

The one caution is the Aussie dollar.  Yesterday I noted it was at highs on weakening momentum.  Today I find it blasted through those highs.  This feels like a parabolic end-of-a-move-type-move for risk assets.  The S&P could take a cue from it. 

Lastly, the move in the Aussie might have coincided with the new moon which occurred 8 hours ago.  New moons often bring about new weather patterns and new directions in the markets.  The bottom line is that this does not seem to be a place to initiate positions with the current trend, which has been up.

In other news, I am suspicious of a Reuters article this morning.  Senator McCain stands by Hillary Clinton aide.  Why am I suspicious?  Well, for starters, anytime McCain grabs the spotlight like this, I get suspicious.  This is the same guy who came to the defense of the cigarette companies in the early 90s by trying to grant them immunity from future lawsuits if they paid a "settlement."

Most glaringly, the article flat out omits that the aid, Huma Abedin, is the wife of disgraced Senator Anthony Weiner, who is rumored to be positioning himself as a replacement for Mayor Bloomberg.  Regardless of the merits of McCain's stance, it does get clearer why perhaps Abedin never left her husband, Weiner, after he so publicly disgraced her (not to mentioned cheated on her).  

Finally, I note the article was published by Reuters.  Reuters is owned by the Rothschilds.  Enough said.