The bulls are defeating the bears up this week. The pre-holiday positive seasonality is slapping the bears around since mid-week. Volatility drops and banking institutions run higher crushing all the bear’s hopes and dreams. Keybot the Quant is long and says higher retail shares can help bulls while lower banking institutions and higher volatility will help bears. Remember that the VIX fell through Keybot’s range in the sand at 11.14 and stocks have been running higher since ever.
On the SPX 2-hour chart, the tight pink standard deviation bands squeeze the radical move higher. Price runs in the external band without going for a rest straight. The middle band at 2456, and rising, are up for grabs. 33). Using the whole figures 2420 and 2450 would focus on 2480 so the target area is the 2480-2486 to satisfy the C&H.
You can also call it a W pattern if you want (light blue series) although it has a cool right side. This pattern gets the same upside target. The SPX is at 2479 only 2 factors from a new all-time shutting high at 2480.91 from 8/7/17 (crimson group). The all-time intraday high is 2490.87 from 8/8/17 (brownish group).
As price makes higher highs in this 2-hour timeframe, the stochastics are prepared and overt, rammed into the ceiling and veggie d. The ROC and histogram are in negative divergence. The MACD line and RSI, however, are strong and long seeking higher highs in price after any pullbacks in this 2-hour time frame. The RSI overcoat is. Price should drop for a candlestick, then come back up again for an increased saturated in price, at that time, the RSI will roll over and be in veggie is likely.
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Then the price will then go down again but then come back up for another higher high when the MACD collection will likely go veggie and that will be the very best in this close to term. Thus, possibly a couple jog techniques, down, up, down, up, then down for a move lower. Into Tuesday lunch time 5 candlesticks are 10 hours of trading time on the chart so that takes things. So stocks may remain buoyant into the holiday weekend and then sort the top out next week when trading resumes.
US market are shut on Monday for Labor Day. If price sneaks out those two more highs as it tops and rolls over you can view where the SPX would venture into that 2480-2486 focus on zone to satisfy the C&H. Today Watch to see if the SPX images a new all-time shutting high.
That will be happy information for the headline authors this weekend. This given information is perfect for educational and entertainment purposes only. Usually do not invest based on whatever you read or view here. Consult your financial advisor prior to making any investment decision. Note Added 12:54 PM EST: The SPX reaches 2479.73 with a HOD at 2479.81. The bulls are pushing to try and printing an archive shutting high today now only 1 point away. Can they do it? On Tuesday Note Added 11:07 AM EST, 9/5/17: US stocks are trading again today following the Labor Day holiday yesterday. The SPX is selling off to begin the holiday-shortened week down 11 points at 2465. Price topped at 2481 close enough for government work to satisfy the C&H discussed above.
Continue to Page 3 for more details about the Enron scandal and how the SEC and Wall Street analysts failed to see through the anomalous plans. By the end of the Enron accounting scandal investigations, the SEC and the Wall Street experts were partially blamed by the congressional hearing committee because of their failure to exercise their responsibilities with extreme diligence.
Accordingly, had both of these sectors compared Enron’s financial reviews with others or with the industry requirements, they could have noted the top disparities. January 1992 In, which was the start of the gas price manipulations, the principal accountant of the SEC granted Enron permission to use mark- to-market accounting for their gas services. The underlying argument because of this method was Enron’s lack of ability to furnish a more accurate presentation of their true liquidity by reserving their liquid property using historical costs. In 1994, the SEC exempted power marketers like Enron from the general public Utility Holding Company Act (PUCHA).
The decision was made based on the premise that said companies, including Enron, did not operate power plants but merely exchanged electricity contracts. This particular exemption made it easy for Enron to manipulate their gas and stock prices by developing a fake energy crisis. The survey fundamentally questioned how Enron made all its money despite the seemingly negative factors that could have created undesirable effects on Enron’s financial conditions. Thereafter, Wall Street Journal reporters picked up the story plot and, soon enough, rumors about Enron’s shady offers started to spread.