Let's make this post really easy this morning - just how screwed up is EVERYTHING? How completely and utterly dysfunctional are we as a nation? Look up FUBAR in the urban dictionary - there is a picture of the USA. The worst part, no one is doing one darn thing to address the myriad of problems other than the truthers and the alternative media. As we say in the south, you can't fix stupid, and that my friend is where we are.
I tussled with this thought for a bit - in the south where perpetually stupid can be a genetic trait, with the government it ain't so. Or is it? While not genetically linked, the crony system of plug and play puppet politicians (like potus for example) generates individuals and actions where you could swear they were a product of family ties. I'm not talking coulda had a V8 stupid, but iron skillet to the face stupid. I'm talking with each iteration the gene pool sinks to new lows stupid.
What's worse? LOL, we elect 'em and put them there. So you yankees and libtards out west, don't be getting all high and mighty on us southerners here. You are as much to blame as anyone. There is a reason the rich are getting richer and the middle class is becoming poorer. Figure it out.
So, we have a PROVEN compulsive liar as potus whose apparent mission in life is to destroy this nation. We have a bought and paid for congress whose only mission is to get rich serving the corporate elite and special interest groups. We have an out of control Federal Reserve and central banking system that is holding the nation hostage. All that and we're not doing one GD thing to stop it. Like I said, you can't fix stupid.
Let's leave it at that this morning shall we.
On to the lie -
FOMC notes today. We can leave the market commentary at that short point as well, cause nothing will happen till 2:00 when the notes are released. Excuse me, nothing will happen till the insiders who get the notes first act before everyone else. My bad.
Taper will be the key. Look for the usual smoke screen BS about taper and how well the economy is doing. They will site (cough) low unemployment (cough, cough) and other bogus data points praising their QE4eva policy. It will be another prancing peacock show touting the dolled up pig they call a recovery. Down here we call dolled up pigs something else, but let's not go there.
Minis 4hr - For those that can read a chart, this one is really simple. This is a short term rising wedge (bearish) that is consolidating in the end of the formation with weakening or negative divergences in the underlying indicators. For those that are genetically deprived - the run should be coming to an end, unless your genetically inferior leaders come to your rescue as they tend to do in these situations.
SPX Daily - This chart is just waiting on a disaster. Like any moment something is literally gonna blow up disaster. Like potus about to set off a domestic nuke disaster (h/t RC). No, I'm not kidding. This is the worst technical set up I have possibly EVER seen (that's as in EVER). She's ready to pop (there are a few southern euphemisms here as well, but let's not go there either).
Don't believe the hype and prep like hell. The best Xmas gifts this year will be preparedness items. They may look at you like ur crazy, but trust me, they will thank you later. I don't know when she's gonna blow, but it's coming. I still think it will take an "event" the is out of "their" control to break this market. I believe we will all see it at the same time. I believe this will be the worst crash in history when it happens as everyone will want out at the same time.
I remain very bearish, but cautious of the Fed who can not let the market go or else. More to come below.
Have a good hump day.
GL and GB!