Bank holiday? LOL, just kidding. We used to bark about those with every three day weekend. Not so much anymore even though the threats now far outweigh those just a year or four ago. One will eventually happen. It is inevitable. It is in their game plan of total confiscation and domination, just not quite yet.
Another glorious modern day aspect of holidays that we've been conditioned to expect are terrorist (read: False Flag) events. Fear the bogeyman! He is everywhere! Well, the bogeyman may not be real, but your government, the DHS and the NSA sure as hell are, and they sure as hell are everywhere.
STB really needs to go deep on discussing the coming domestic major false flag events (or one really large possible nuclear event - see South Carolina, military purge and mass Iodine orders). I keep threatening to do this, but like Obummer promised transparency (and every thing else), I have not yet delivered either. At least there is a chance I will keep my promise.
They must have cover, as their plans are progressing and their citizens are becoming unruly. They have so much at stake and are not willing to throw it all away cause of something they call a Constitution. They need a quick and easy way around pesky laws. They need something that will allow them to take the Patriot Act and juice it more than A-Rod could dream of.
This IS coming. It will be to protect their power base and the petro dollar. It will be to cause a world war to cover up the extreme debt and allow us to default on every global obligation. IT will be to bury the CDS market which is the cancer of the central banks. It will be to allow them to grab (steal) the ultimate prize - the $19 trillion in US retirement savings. It will be to allow them to grab the guns and complete the implementation of the police state. As for the NWO and Agenda 21 - more on those disasters in another post.
Bottom line, the end all, be all, domestic false flag is coming. It will put 9/11 to shame. Just hope it is not near you and be prepared for marshal law after it hits.
On to the lie -
Well, since the economy is kicking so much ass (see retail, real estate, employment and moar) is it any wonder the market continues to defy gravity and hover at ATH's? LOL, enough of that crap.
Minis 60m - What I see here is what had become a formless lump of crap that has developed into a very efficient technical system has now gone to crap again. Price had (and still could) followed a system of well defined patterns, but the recent lightning fast recovery and park has left all that (for now) in the past. It's like they reset the machine and want to define their own new set of parameters, thus not allowing the markets and algos to feast on what had become very predictable features.
I'm still working off the premise that the pink rising wedge failed (for a third time) and the markets are backtesting busted support at a potential double top in extremely overbought conditions where the bears have proven their willingness to be more than involved. This is a nightmare scenario heading into a long weekend. It will remain a nightmare scenario, as I have never seen a more perfect technical situation for failure.
You've seen all the nasty charts. I've been trowing them at you since the beginning of the year. They are all in my chartbook if you want to see them. I'll go into more detail on the minis and cash below if necessary. For now, the standard preholiday pump is in play. Lord knows they don't want us sitting around bitching and moaning about some sort of market crash over a holiday weekend.
More to come below.
Have a good weekend.
GL and GB!