Yes, the seemingly impossible may have happened yet again. It appears the central planners sucked in another group of bears to squeeze to death. Those bastards could not even let the market have any semblance of a normal correction. 38% retracement? HA! That was a bogey they set out to suck in another bunch of suckers. The taper talk? Well timed jargon to prime those waiting for the end. Well, jargon so far at least.
They have to taper, but they can't. I'm assuming it is just more propaganda.at this time. A bone for the weary masses growing disenchanted with the new reality everyone knows is unsustainable. Who the hell is gonna step in front of this massive money sucking train they created? Just like in the 90's under Clinton, no one is about to stop this unregulated system of greed and corruption. The first one that does, the next one to get in the Fed's way, is gonna wind up just like JFK.
Their crimes have been exposed over and over again, and with each instance their defenses bolster, and their will to defend their system only grows stronger. Think of the whistle blower prosecution, after we were promised the most transparent administration in history. This is no longer America. It is the greatest kleptocracy of all time. They are not satisfied and will never be till they have literally everything, total control and all the wealth. This is the big grab.
Charts? Can they still have any meaning where we are now? I still believe that something, especially price, rules everything. Even their tricks, control of the data and machines can't outrun price. It is the great equalizer. They can't balance fiction with reality. This is their Achilles heel.
They have another problem, an unruly public, and that's why the MSM and police state, a la George Orwell, are rapidly being deployed to further mask their statist system. They want the globe. These bastards honestly believe they can take over the whole Fing globe.
I/we like to keep the posts short, so I'll write more on my ideas about the resistance that is to come and how both sides will deal with the ensuing wage for control another time. Bottom line is a great battle between the corporate elite and the sheeple is yet to be waged. This is no longer reality as we know it. It has become a winner take all game, and they are playing for keeps. More on this to come.
On to the markets -
After all that why bother addressing price action? I guess it is the only game in town and we have to have something to keep us amused as their designed implosion and grand takeover is being implemented. Plus, it's where our hope lies. Crude, bonds, gold, stocks, they can't balance it all. They can only print so much, manipulate only so many data points, threaten military might and create only so much global destabilization before their master plans of control unravel. Their arrogance will be their downfall, just as with every dynasty before them.
So; as has become my best method for calling the markets over the past few years, let's let them tell us what they are planning to do. The Bernank is speaking, and it's foolish to do anything prior to his eminence decrees their next plan of action. We have no choice but to follow and watch for the traps. Never forget they have a plan and control almost every aspect of everything you can imagine.
Right now we're literally forced to follow and believe the taper talk. It is the market control and mover du jour. If, if, they should give a definitive stop date, the markets are going to freak out. I don't think they can announce
No charts for the post today. As usual I'll provide charts and targets in the comments below. We're still in the neighborhood of that major inflection point I have been discussing since last week. As mentioned, we're above the 61% retracement and out of my comfort zone as a bear. The market is positioned for a major pukefest. Yet, take a look at almost every retracement thus far that has eclipsed the 61% mark and tell me how they all ended. How many times have we technically hit the ceiling and they still manage to blow right thru it? We're there again.
Remember, it's their world, and we get what we get. In the mean time, I'm simply waiting on my "event".
Have a good day.
GL and GB!