So we sit and watch as POMO does its intended job, lifting the markets creating the illusion that all is well and the recovery is running full steam. That is all we can do. I know I talk a lot about waiting on the catalyst to come. Sorry, but that is all there is that could be left to stop the corrupt crony system at this point. They have control from start to finish, from Wall Street thru politicians thru the scotus.
There is nothing that the sheeple can do at this time to change anything. I believe we recognize this, that we are waking up at a more acceptable rate than in past years and that gun sales are a the best indication of where this whole mess is headed.
So, let's see if the sequestration issue can deliver a shock to the system. Then let's prepare for the next debt ceiling debacle. Stormy seas lie ahead, so enjoy this last week of calm sailing.
On to the markets -
SPX Daily - Can traditional market and technical forces turn the tide? Can there be a 5% correction which is way overdue? Can the overbought and overthrow situation be brought back in line with some semblance of (the new) reality? I think it will and that should start sometime this week if not next. The overbought conditions and the negative divergences to price on the chart blow can not be underestimated. You have seen the weekly, monthly, CPC and BP charts I have presented over the past few weeks. We're building to a, if not the, major top. Alas the Fed is in total control and you can never forget or belittle that fact.
Minis 30m - Into a massive open field situation where a move up to 30 can happen as easily as a fall to the 07 area. 22 is resistance.
More to come below as usual.
Have a good day.
GL and GB!