STB pretty disgusted with all the news and the fact that no one can even utter anything that is anywhere near the truth anymore. Even more disgusting the fact that most sheeple just roll along as if all will be well in the end and the typical American fairytale ending will come as it always has. The sheeple's ignorance, arrogance and incompetence is shining more brightly now than ever before.
We've recently moved from (coincidentally with BB and TG's departure) total control and complete manipulation to a situation where control is fleeting and chaos is starting to rule. The Fed's BS taper "all is well" we're recovering was the final straw for those on the sidelines that would not admit but always knew, without QE we we're nothing.
So here we are finally nearing the end. The train is about to come out of the tunnel and find at the end there are no more tracks and there is a cliff waiting. No more bridges are waiting to save this train from falling to its doom. Miracles will be fleeting and not on demand. Bottom line is they can only fight rates now and not the market as well. They have to prioritize, cause if rates rise, it will truly be game over for us all.
Domestic issues aside, the global scene is in complete meltdown, but the MSM is not allowed to report on that or let you know just how dire the situation is across the globe. You see, the Fed (er we the American taxpayer) have been supporting the global ponzi all along, and we can not do that anymore either. The bail-in messages are everywhere now. The global economic meltdown is in its final throws.
Wake up STB to the reality and do something to protect yourself now if you have not. Protect your family and funds. My suggestion is prep like hell if you have not and get your money out of the markets and the dollar. Capital controls are coming as well as central bank theft. Remember the dollar is called a FRN. They can do as they wish with them. Be prepared for that.
On to the lie -
Still reporting from home, so the travel charts are all I have. They have worked fine and are only slightly different from the work computer.
Bottom line is we're sitting on a cliff that has very few points that would stop our fall if we were to go over the edge. At this level or diagonal, the Fed has been able to contain things in the past and consistently make the markets rise to new heights. Price is literally sitting on STB's red line of death that I've been discussing for months now.
Looking at the charts there may be one last support diagonal below that they may be able to defend, but is 1757 goes (the red line of death on the work computer) I'll call a top and be done with it. As discussed, the irony I face having made my first swing trade in close to two years at the close on Wednesday the 15th is disturbing. I made the trade on principle. It was the perfect technical top at the end of a very long ride.
Why not call a top? Simple, I am ridiculously fearful of the Fed and it's manipulation. As I have said over and over, this game is not about nailing the top anymore but getting that final trade right. Nailing the top is not important. Don't fret missing the first one or even 5%, there will be PLENTY more where that came from.
Minis Weekly - Simple, yellow, beige, yellow and blue - those diagonals are all there is that's left.
Minis Daily - Red line of death. the diagonal that started the red rising wedge that began off the November 1012 lows is it.
More to come below. I'm at home. so I'll be in and out today.
Have a good day.
GL and GB!