STB's SOU rebuttal, nothing but lies and half truths are spun to mislead you to believing that all will be well with a little more elbow grease and patience from the
The deindustrialization of America and the growing entitlement state are counter productive to solving a credit and debt crisis. CTRL+P and increasing spending are no way to manage such a crisis either. More of the same in this case is not a good thing. Remember our place in the global ponzi system. Our job is to consume. Their job was to buy treasuries and make cheap led based trinkets for us to purchase. When they quit buying treasuries and went to net sellers, the system broke. Remember Humpty Dumpty? We have fallen off the wall.
You need to understand where they want to take us - a socialist state, just like the former Soviet Union where everyone works for and is dependent on the state. Ya think they have the perfect leader for the job? A socialist that is willing to lie to your face while he bows to the mafia blackmail by the big banks to control government and all of its policies. A government that refuses to prosecute crime at the highest levels to perpetuate its agenda of fascist rule while it develops its police state measures to control the masses.
You may as well be living on a farm (ie: sheeple). Fortunately we're still living in a "free range" system, but the coming financial and economic collapse will quickly lead to us becoming penned in and having out freedoms revoked. These are the things potus is not telling you about. The real truth is they have lost all control of the system, the government works to serve the corporate cronies and the sheeple are no more than mere debt slaves to perpetuate and fund their excess. This is reality. It sucks, but you need to know the truth. The sooner you accept this truth and stop buying into the lies and manipulation the better.
On to the markets -
Daily SPX - Why screw up a good thing when you don't have to? I think that's the Fed's motto. As long as they have $85 billion a month to feed the beast and everyone is making a shitload of money, why screw it up. If no one is going to police the situation then carry on. And carry on they will till the system literally implodes from the sheer weight of all the fiat they have printed.
Technically the market is a nightmare. The market is now more bullish than 99% of all prior readings. There have been at least 4 instances since the 1375 level that have been near perfect technical tops. Those combined with the current overthrow situation and nearing all time highs and .... well .... you get my drift. Not till the catalyst comes that forces their hand will anything significant happen to the downside. We should get at least a 5% corrective at any moment, but I'm not sure the market can withstand any downside action at this point. They are now in a position they can not let the markets even correct.
Minis 30m - Another rising wedge set to fail? looks like it. Not a large one, but big enough to possibly cause them problems the rest of the week. SOU has come and gone, so they can take a breather now. Let's see if the bears can force the bulls to at least punt the ball away. The STB point is 1506 and is after the close tonight.
When the break happens I will be ready. It will be fast and furious. Below 1500 they have left some massive holes that have little support. Till then all you can do is watch and wait. I continue to scalp long and short (actually making very few trades these past few weeks). I'll show a chart soon where April has historically been a bad month for the central planners. We may have to wait till then. It won't be long now till their system breaks.
More charts below as usual.
Have a good day.
GL and GB!