SOU tonight. My thoughts? More like SOL. I was thinking about this time last year and how all I could do was recommend following the Fed, waiting on a catalyst and watching an overbought market climb towards the 1375 double top with an underlying situation similar to today. I would like to say that little has changed, but that is not the case. If you would please inform me what I am missing about this improving economy, or where the "hope" is let me know, cause I don't see it.
potus is going to tell us how things are improving and some inspirational success story about some mixed race female that is handicapped, came from a broken home and had 14 children by the time she was 25. O will try to inspire us and reassure us that they have everything under control when nothing could be further from the truth. I won't be watching. I can't stand to see him or even hear his voice. It literally makes me want to vomit.
We won't hear about the NDAA, the drones, the 1.6 billion bullets the DHS has purchased for domestic use, cyber spying, domestic road blocks and the sprawling police state that is taking over the country. But you will hear how they need to control our ownership of weapons.
We will not hear about the special interest controlled representatives and administration that serve the corporate elite over the people.
We will not hear about shrinking GDP numbers, trade deficits, devalued currency, stealth inflation and how we are losing hundreds of thousands of jobs a year to China.
We will not hear about how government spending is 25% if not more of everything and without disability and student loans (the next next bubble) to maintain our entitled unsustainable spending habits we'd be up shit creek.
We will not hear that without the $85 billion and stealth POMO that the markets here and abroad would be about 50% of what they are today (and that is being optimistic).
We will not hear about O care and the true costs to the nation for socialized medicine. Nor will you hear about the chips they want us all to have (mark of the beast) to participate in the system.
We will not hear about the tax hikes that affected everyone and not just those making above $250k as told.
We will not hear about the US court system that has been high-jacked in the name of fiscal reality, where the courts can not prosecute crony banksters cause if they did the financial ramifications to the country would be too great to bear.
We will not hear about manipulated oil, gold and commodity prices.
We will not hear about the state controlled MSM that fawns over the administration and prints only what they are told to print.
We will not hear that you are now considered a terrorist first and a citizen second.
We will not hear one ounce of truth. You will hear what they want you to hear and no more. You will be expected to honor, respect and believe every word he says.
Most importantly, will we hear the words "God bless America"?
I won't hear a word of it, so let me know what he has to say in the morning. I won't miss anything and you will not either if you do not hear the address tonight, because it will only be one lie following another.
On to the markets -
Daily SPX - The technical situation only continues to worsen as insiders continue to dump shares into this fallacy of a market. As mentioned, I used to say follow the Fed every day. Now all I can say is wait on the catalyst to turn this thing once and for all. There is nothing else you can do.
SPX 60m - Kinda ridiculous when you look at it this way. Everything since January 01 is an overthrow situation that is real only in price and nothing else.
Minis 30m - There are what they are. Next resistance is near 22 today/ Support points are numerous to 1500, but below that they have left some massive gaps. I got it really right yesterday when I said to expect nothing before O speaks, and just about nothing happened yesterday. If anything one should expect a green close today simply cause the SOU tonight.
All we can do now is wait for the implosion.
Have a good day!
GL and GB!