I know we're ignorant, uneducated, entitled, oblivious and overly trusting of our government to do the right things, but the lies really have to stop. Well, then again, of course they can't stop. Like a compulsive liar they can't stop though as they are so deep in the string of untruths they don't even know what's real and what isn't any more.
Check this from Zero Hedge on the jobs report this morning -
This is outright fraud.
"but the major news is the drop in Emergency Unemployment Compensation beneficiaries from 1.37 million to (drum roll please) zero! Congress decision not to extend this benefit means there are 2 million fewer people on benefits than a year ago. The 1.4 million drop also means the number of people NOT in the labor force is about to rise by the same amount, which as we explained before, means the US unemployment rate is about to drop by up to 0.8%, which means the January unemployment rate could be as low as 5.9%."I'm so ticked off right now I can't even formulate a good rant. Just chalk up another false victory for team manipulation. Their "recovery" is nothing more than data manipulation, and they are proud as hell of themselves for this. You do the math - Emergency unemployment compensation goes to ZERO at the same time continuing claims rose the highest in six months. Shall we mention the 50,000,000 (that's 50 million and rising) people on food stamps? Let's not go there.
I am just floored, completely speechless, at how worthless, spineless, and utterly bought and paid off our representation is. This nation is in a free fall, and they are offering free drinks, peanuts and inflight movies to keep your attention inside the plane, cause if you bothered to look out the window you might just freak out.
On to the lie -
Daily SPX - SSDD - nothing new to see here. Earnings beats (not revenue of course) keep rolling in. Ever wonder how they always nail it to the one cent beat? Amazing isn't it? Let's not go there.
What can I say about the charts? Well, if the above is any indication they don't matter much at this point. What's real? What can stop them? If that's the case then I reiterate my concerns over what's actually real about any investment you have in this market. Think about that.
I'll reiterate my "event" call. Total control, they either decide to end it or they lose control via some exogenous or external event. I still contend TA will get it right as price will never lie. In the end price will get it right. At this time price (and everything else other than the employment farce) is screaming top or correction. If they overthrow again, they go vertical. Be my guest. I believe if they want to go higher they have to pull back and build a new base.
I'm still in my miniscule short from a week ago Wednesday. I'm still looking down at this point at least near term. I don't think they can let the 1775 level go, so if it falls that will be all I'm willing to give at this point. The charts are a disaster. What isn't a disaster?
More to come below. My work ToS is still down.
Have a good day.
GL and GB!