Wednesday, November 13, 2013

Chartapalooza 11/13/13 SPX /ES Gold Silver Oil Dollar EUR/USD

We've got to be close to a top. How many times over the past two years have we herd that? They can't push it higher, impossible. Go read just the headlines on  Zero Hedge or Drudge this morning and you'll find yourself in disbelief yet again as we sit just under all time highs in the markets.

You must accept that the system is completely corrupt, 100% to the core, greed infused and market manipulation is the greatest diversion ever committed in history. Nothing is real and this will be proven one day. When that day comes every lie will be revealed and the markets will melt like never before. Till that time they will perpetuate the hopium infuse farce till it can't go on any longer. Not till my "event" or till they are ready will it fail. Remain patient and prepare is all I can say. Time is running out.

Dollar /DX - Everyone is debasing and will continue to. After breaking the rising beige wedge support and backtesting it now, I suspect a move thru near term green channel support to green wedge support. After that a backtest of busted green channel support should occur before a move to the lower falling blue channel support. The dollar is on its way out now.

EUR/USD - Barely hanging on to long term green diagonal support here while in a beige channel down similar to the dollar. This blue rising wedge should be it here and the larger HnS collapse is coming soon.

 Oil /CL - Next to gold the asset whose price I trust the least. We're one war away from another $150 print. Red long tern support and near term yellow channel support are being challenged here with the backtest of busted blue resistance. There are huge question marks surrounding oil now with the Saudis discussing deals with Russia and with our wonderful administration ticking off everyone on the globe. This precious resource may not be priced in dollars much longer.

Gold /YG - Just but physical any chance you get. Nothing more to say here. 38% long term retracement off the 2001 lows is being hit here. Price is being pinched between channel support and blue diagonal resistance. Price will do whatever they want it to, so don't really concern yourself with where you buy it, just get it.

Silver /SI - Load up on physical coins. I think they will be tremendously valuable in the near future. Long term support and the 61% retracement is being hit now.

Minis 60m - Pretty simple, watch 1752 next then for 1743 support to get hit. Sub 50 and 200dma's here. Bears got the ball.

GridEx starts today so FF alert is at Deathcon 1.

More to come below.

Have a good day.

GL and GB!

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