The Day after…..Is he Happy or Sad?¬† Depends¬†on how you look¬† at him?¬†¬† Actually this is John Boehner’s reaction¬† to the day after the mid-term elections (see story here).¬†¬†

 

I share¬† this, because it reminds me of the markets…It all depends on how you look at them!¬† With the¬†much awaited Mid-term elections and the QE2 announcements¬†behind us and sizeable rallies in many areas yesterday, where do we stand?¬†

From a price action standpoint, things looked very solid, before the elections and QE2. I did¬† “Where’s the Beef(see post here)¬†on election day, with a list of assets that were close too or at highs for the year.¬† The last time I checked, all of us invest in price and I remained puzzled why investors seemed to have a “BEEF” with prices going up, in a very broad array of assets.¬†¬†¬†

Yesterdays¬†large rally¬†pushed the markets¬†to some very interesting price points…Odds are low that markets can all line up like this….YET THEY DO!!!¬†¬†

CLICK ON CHART TO ENLARGE 

As I shared above and in the “Where’s the Beef” post, quality price action is taking place as many assets are at or close to new highs for the year.¬†¬†Reaching ¬†these very important Fibonacci levels is NOT BAD news at all, yet it should raise a level of awareness that ASSET PROTECTION (stops) is something to have in place.¬†¬†

Keep in mind, if this quality price action continues and these markets break Fibonacci, much higher prices¬†should take place, similar to the “NEW LEGS FOR GOLD” when I suggested that if GOLD breaks fibonacci resistance,¬†HOP ON BOARD, no matter how high you think it is at the time!!! ¬†(see post here).¬† ¬†

   

LITTLE QUIZ…¬†Been a good month (last 30 days)¬†for stocks….So with this in mind, which position would have made you MORE MONEY (including todays action at 11:30 central)….Owning the¬†S&P 500 or owning TBF (1x inverse bond fund etf)?¬†¬†¬†¬†

Shoot me an email with your thoughts and answer      kimblechartingsolutions@gmail.com 

 

How The Recent Decline In Stocks Looks "Eerily" Like Major Bear Markets Of The Past