The collision of global markets and social mood

Thursday, March 24, 2016

Thursday -- Free Food, The Serene Land Yacht

S&P E-mini Futures:
Down hard, overlap of the 3/14 swing point.

Check out this massive dose of accidental subtext (unintended communication):

Soup lines in the future?

Maybe after the car industry jumps the shark (and marks a social mood peak), which it may have just done.

Fresh on the heels of the Bugatti Chiron, "the last truly great car" (and a huge social mood warning), is the newest Lincoln:

"Lincoln’s new Navigator concept was inspired by a yacht.

"Lincoln has very intentionally gone in the opposite design direction from its longtime rival, which has favored very sharp, aggressive, dominating designs for the past few years.

"Instead, Lincoln is focusing on "elegance and beauty" for the exterior, and "serenity and harmony" of the interior.

"The look is about being imposing, protecting the family, and giving them a place to be safe."

Thus Lincoln has taken a U-turn from sharp, aggressive designs and is protecting families from the outside world by giving them an imposing living room of elegance, beauty, serenity, and harmony.

Even the massive gull-wing doors suggest soaring above while Rome burns.

Serenity and harmony feel suspiciously like social mood cues that are embraced by automobile companies at the tail end of a long, long boom.

USD higher. Above 97.06 on the DXY and the dollar bears will have a problem.

Listless. No conviction.

WTI crude hunting for gap fill at 38.60, but could Fib to 35 area. NG flat for now.

Down across the board on that pesky dollar. Silver still hasn't had success with its 16.37 swing point.

S&P Outlook:
Asia and Europe are pretty messy. And the mess has spread to S&P futures, which just overlapped the equivalent spot I've been watching in the cash market: 2024.57.

Not the end of the world, but a definite warning.

Thus far it appears the full moon and not pre-holiday trading or window dressing has influenced the market.

2017 area is still the first volume support area. The first Fib support isn't until the 2,000 area.

All higher targets are still valid -- 2060.55-2061.23 and 2064.48-2065.25 -- just not this week, now that 2024.57 has broken.

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