Wow, here we are again with so much crap going down I'm not sure where to start. The financial crisis is finally coming home. Reality is finally getting the upper hand. Central planning, greed and corruption are starting to lose and the people are slowly coming to a boil. How close we are to the end game and complete financial destruction is an unknown, but one thing that is for sure is with every passing day that reality comes exponentially closer. The Fed's and government's policies to support the lies, fallacies and fantasies can not go on forever.
China, Brazil (Brazil - of all places - how do you screw that one up? Energy independent with the hottest women on the planet and all that coastline.), Spain, Greece, Syria, want me to go down the whole list? These countries and countless more are all on the financial ropes. Funny though that the fall off the top and the crash yesterday has nothing to do with any of this. It was all because of one man's threat to take the hopium away.
Fundamentals no longer matter. Nothing matters other than the great cash machine continuing to print moar and moar and never stopping. Consequences? What are those? Just friggin print and keep on printing.
Of all the advancements, great discoveries and sheer brilliance the human race has achieved over the past five billion years of this planet's existence, this is the best financial and governance system they could come up with? Ah, greed, it rules and permeates everything to the core.
There was a great man about 2000 years ago that warned us of this. It appears His teachings are fading faster than Obummer's approval rating. We're on the cusp of a great global religious, environmental, political, social, economic and financial rebalancing.
The only way for those in power to remain in total control is through ever increasing coercion, blackmail, brutality and bribery. Sadly those methods are increasing in intensity as control begins to slip through their hands.
Get ready for the worst folks, cause when their charade is over so will be life as you know it. Depression era hardships will be a cakewalk compared to where we're headed.
On to the lie -
SPX Daily - The great wedge to end the great run is finally ending. The E overthrow point of the rising wedge, a topping signal, is finally starting to wear on price. I knew TA would get it right all along regardless of the central planning manipulation. TA has a funny way of being able to time things and the taper came at the top. Pretty cool stuff.
Now don't you for one second think that the central planners have given up. They can't. They will fight back in some form or fashion - if they have the ability. The irony is that their greed has more than taken them past the point where they can sustain anything they have created. If you think they are going to let the trillions they have stolen be evaporated without a fight, you are mistaken.
Minis 30m - Is a 100 point tumble through critical support enough for now? Can the PPT apply the breaks? Will the CB's start to buy back and go for yet another short squeeze and do the improbable in the face or the taper? You betcha! This is war now.
Let me remind you that the '07 top had a post LEH tumble from 1555 to 1370 then a miraculous final bull trap run to 1576 all in the face of total destruction just as now.
Moar to come below. I'll chart up oil and gold in the comments today.
Enjoy the weekend.
GL and GB!