Friday, May 17, 2013

Morning Charts 05/17/13 SPX /ES

Once again we end another wonderfully profitable week for those long the stock market. Never mind that this is one of the longest periods without at least a 5% correction. That does not matter and it should figure when the Fed has forced every asset looking for any return into the stock market. For visualization purposes think sheep being herded for slaughter. Once you enter the gated chute there is no turning back.

You are either full risk on or the IRS will audit you, the DHS will intimidate you and all your electronic communication will be monitored. Whoops, that last part is going to happen no matter what. I meant to say you are full risk on or they will crush your short position into tiny little fragments that will be used to fuel the fire for the next 5% pop up.

Top, top, top is all we've heard for a year now, and we're hearing it with increasing intensity now from almost all fronts. Defying all the odds (and steadily worsening economic data on every level) here we are. So, what's going to take this market down? The Fed has spoken the ill fated words for a couple of weeks now about lessening the easing infusion, the only thing that keeps this market afloat. That has not scared anyone off. The data is horrendous. that does not seem to bother anyone. Globally everything sucks. WMT misses, BRK gets downgraded (of course S&P is much less reliable than Moody's and Fitch /s) and AAPL is priced for perfection. Credit and bonds are signaling total disaster is immanent. Even the Tepper curse has been made. I cold go on and on noting many more topping scenarios and catalysts. So what's the deal? Why do the markets continue to soar, and what will it take to stop this bull run for the ages?

What will it take to stop a completely manipulated and totally rigged system? I have no idea, but I do know that since the 90's (really since the JFK assassination) "they" have been at the helm. "They" have survived two great crashes, but somehow have managed to blow a third bubble. This one on nothing but debt (the worst type). You can see and feel it all spinning out of control now. The exposure of government scandals is finally being brought into the light. Their control of the MSM is being challenged. Their ruling ways of fear and intimidation are being exposed.

What this administration needs now more than ever is a distraction and a really big one so expect it soon. A domestic false flag would be good. As discussed here around the Boston bombing (FF or not), we're at a time where the government absolutely must have a 9/11 type event to galvanize the nation. Also discussed here many times over the years is that every global economic crisis like this thru history have always ended in a massive war. I honestly thought O would have stated one before the last election as no war time president has ever not been reelected. How bout this - will O attempt to extend his reign (not presidency but reign) with a war? Sickening thought isn't it? I've discussed how I think this plays out with distractions to cover the crash many times (and of course you know I think disclosure of alien life will be coming soon as well).

Syria is about to break out into a full fledged world war. I suspect at this time Russia, China and the US have already divvied up the globe and they know how, when and who gets what has already been decided. I don't think any of them are stupid enough to go for total global domination or to blow up too much of each others critical infrastructure. We all know the war is all about positioning for oil and energy. I do believe that a war will need to be very, very deadly and will be planned to eliminate as much of the global population as possible. The war will be about sustainability of the globe and not ruling power. It will be a great eugenics experiment. We're overpopulated. We can't supply enough jobs and can hardly feed everyone now as it is. So, big war, kill lot's of people (preferably the unhealthy ones without education and on welfare - sorry this is the way I see it), destroy lots of things, restructure the banking and finance balance sheets and put fewer people back to work with plenty to do. Bingo! and we're all kicking ass again.Well, those that are left will be.

On to the markets -

Sorry got off on a tangent there - back to the markets - really the markets are the great distraction for all that's coming. They are the invisibility cloak hiding the harsh cold reality that's coming to haunt us all. Nothing is real and that's why I kind of avoid discussing price movement these days. It is pointless. But, there will come a time, and hopefully very soon (if not right now), that discussing price will become meaningful.

Last Friday I thought that taking a shot at a short might be worth a try. Thank goodness I submitted that with caution. I still like the timing though. I got screwed by the machines, but isn't that to be expected these days? Look at the news and the economic data from this past week and my short call should have been beautiful. LOL. Anyway, that was the first time in a long time I have been willing to even think short, and I still think we're close to a time when the bears may be able to make at least a little hay. I do think I am going to pull the trigger on a top call very soon just o get that out of the way.

10m SMA intervals - Cause it is a good chart and someone wanted it.

Index Comparison Monthly - If my count is correct there have only been four red months in the past 20!

Index Comparison Daily - BUNCH ALERT!

CPC - Sell 'em territory for almost a year and diverging!

SPX Weekly - Dig the parabolic lift the last few months and ask yourself is this real? How about those divergences and the overthrow in the indicators?

Minis 15m - I'll give support and resistance calls below. Should be fairly obvious.

Bottom line is nothing makes this thing crash till they want it to or some "event" makes it. More to come below.

Enjoy the weekend.

GL and GB!

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