Daily SPX - The dollar at extreme lows and market at extreme highs. Something has to give. I said in the weekend post, that if I had a set and was not scared to death of the Fed I'd have called a top Friday. Let's see just how greedy and desperate they are from here. Back in early August I warned of unprecedented manipulation, and we've seen it clearly. Bottom line is they have taken the farce/lie so far they can't stop now or else.
Dollar - /DX - The head and shoulders is easy to see. The question is will it break down here or not. If so the market bears will have to wait a while longer. How forceful do we get in the currency war?
Minis 60m - the breakdown of the green channel and the backtest should be some sort of top, major or not. IMO it combined with all past formations makes for a beautiful major top.
Minis 30m - 200ma back in play as major support. 97, 92, 91 are your supports for the day. 02 should remain the resistance point/area.
401k confiscation is coming. I have been discussing this for years, I have some real issues with this and am beginning to wonder if there will be a market crash. Society may crash when they confiscate the funds and everyone goes ape shit, but the manipulated and controlled markets of the elite will be just fine backed by trillions in retirement funds. The ever growing poor and entitled will love the rape of the middle/upper class, a multi-trillion influx would be just the thing for Mr. Market and would really help with that UST lack of buyer problem we have. More on this to come in another post. Is this how we avid becoming Zimbabwe?
Have a good week.
GL and GB!