Happy Halloween!

Boy oh boy – I live for this stuff! Massive moves across the board and of course Thor is loving it. Before you guys head out and slip into your Halloween costumes I wanted to serve up a few more charts as we are seeing had significant developments across the board:

2014-10-31_spoos_update

The E-Mini (and the S&P cash) just painted a new all time high – who would have expected that just two weeks ago? Well, we didn’t but we had the foresight to go long near 1860 and our accounts have been blinking green ever since. As I said – this thing is just getting warmed up. Today it’s going to be pretty much ramp & camp here and most likely we’ll be seeing a shake out next week. But the weekly is donning a brand spanking new buy signal and unless disaster strikes before the close it’s on the books.

2014-10-31_gold_update

GOLD!! Actually was looking at being long yesterday but to my credit I pointed out that being short below 1170 is recommendable. And we just breached that and a brand spanking new weekly NLSL. Wow this is huge! Just look at the monthly panel to grasp the significance of what’s happening here. The gold bugs are near a panic no doubt and this could easily fall off the plate. I expect some gyrations here at this major inflection points but being short with a stop above the 1237 NLBL is the name of the game now.

Two more juicy long term charts waiting below – please meet me in the lair:


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And now it’s time for you know what:

beer4

That’s right – Hefeweizen time! And we damn well bloody deserve it as we’ve played this advance (and the preceding sell off) like bosses. Allow me to take you out old school:

Prost!

oldtimer_yukon

Wrapping Up The Month

As usual October has been a pretty capricious month and there wasn’t a dry eye left in the house. Tomorrow will be its last trading session but since Sunday is Halloween I don’t expect much activity. So let’s take a quick look at where we are on some of the most salient charts:

2014-10-30_EURO_monthly

The most ominous chart right now must be the Euro. We finished September near the lower Bollinger and it looks like we will be doing so again. What’s worse most likely it will be a shooting star and a drop below 1.25 may actually lead us toward the 1.2 mark. Frankly that was on my Christmas list last year and it’s about time Santa delivers! For the noobs – I’m a U.S. expat living in Europe – you do the math.

2014-10-30_ES_monthly

Pretty much the inverse situation in equities. This is one of the longest hammer candles I can remember (only challenged by the July 2011 candle) and it has reversed a whole cluster of Net-Line Sell Levels (NLSL). Very very positive and we may be scraping new highs by the end of the year.

2014-10-30_spoos_update

A quick peek at the daily and weekly panels. Nice formation here on the daily (left) side and although we are overdue for a little correction I think we may close the week above the NLBL I highlighted. That would be our first weekly buy signal in a while. With a bit of luck, effort, and some scotch tape we may be ready to roll into Santa season. Frankly a little shake out beforehand would actually be healthy and shake out some of the late comers.

But the best chart today I will have to reserve for my intrepid subs – we are most likely near one of the best monthly buying opportunities of the year:


More charts and commentary below for anyone donning a secret decoder ring. If you are interested in becoming a Gold member then don't waste time and sign up here. And if you are a Zero subscriber you get free access to all Gold posts, which gives you double the bang for your buck!

Please login or subscribe here to see the remainder of this post.

Bonus Chart:

2014-10-30_zero

Nice bearish divergence today on the Zero Light.

Cheers,

RIPQE

Here lies the charred remains of Quantitive Easing – Time Of Death: 2pm October 29th, 2014. May you rest in piece – it’s been fun. The market is now officially on QE cold turkey (just in time for Halloween I may add). So when are they announcing QE4?  Just kidding!

Well, the good news: the Dollar is up and the Euro continues to drop as I’m typing this. Which of course serves this expat just fine. Alright – let’s review the damage, shall we?

2014-10-29_GC_update

Big FAIL on the gold front – it never even had a chance of touching that NLBL on the daily. The weekly appears to be a goner as well. Next target is the weekly NLSL at 1183.3.

2014-10-29_EURUSD_update

The Euro – ouch, that is one ugly chart. Technically we have now established a falling diagonal which should act as resistance on the next bounce. What doesn’t help the Euro’s case is that it just sliced through that daily NLSL as well.

2014-10-29_DX_update

Obviously the inverse on the Dollar front – if you squint you can make out the finger of God on the hourly panel. On the daily we also now established a rising diagonal and it just crushed a NLSL which should not start acting as support. Very nice and a breach of the old highs are now a possibility.

2014-10-29_SPX_update

Equities – actually thus far they’ve been holding up pretty well! I don’t see anything nasty here and my long positions remain in good shape. Nothing to add really – let’s see how we close the week. But this is pretty positive.

A few setups while I have your attention – please step into my lair:


More charts and commentary below for anyone donning a secret decoder ring. If you are interested in becoming a Gold member then don't waste time and sign up here. And if you are a Zero subscriber you get free access to all Gold posts, which gives you double the bang for your buck!

Please login or subscribe here to see the remainder of this post.

Cheers,




    Zero Indicator


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    1. Happy Halloween!
    2. Wrapping Up The Month
    3. Getting Paid On Thursday
    4. RIPQE
    5. Strike The Iron While It’s Hot
    6. Don’t Be Afraid Of The Boogeyman
    7. Kitchen Sink Monday
    8. Quiet Friday Morning Briefing
    9. Thursday Morning Briefing
    10. Muppet Time!