Updated Daily Indicator Chart. This thing will spew all over its self sooner than later. Look, the manipulators can continue the run up, but from here to China everyone knows that the accounting shenanigans and falsified economic numbers (like reporting unemployment as less than 10% when it is really over 16%) are driving a bullshit rally that will fail eventually. Aren't you tired of this yet? I sure am.
Now, let me clarify this. I'm not calling this as the end of P2 here (yet). Remember I have been begging for a descent correction to reset the lower trendline and then one final pop to the top. IMO a blow off top to take out the upper trendline is unlikely.
Chart viewed better HERE.
Yes...on behalf of all bears, we are tired of this. Besides all the negative divergences, wedges, and media twists...since the Fed is still having POMO auctions till October, won't this thing be on rocket boosters until then?
ReplyDeleteHB- It might, but they only got 16b left. I'm thinking a minor pullback here. Push up to EOM to get the mutual fund statements right then in mid october she's toast.
ReplyDeleteI welcome the day. Thanks for all the hard work and analysis, very much appreciated.
ReplyDelete