Wednesday, May 7, 2014

Morning Charts 05/07/14 SPX /es

Remember my stealth inflation post quite some time ago? The one where I recalled a conversation with Mama STB over a can of tuna and why it contained more dark meat of less quality and it cost more. In that post I also addressed my beloved snickers and breakfast bars magically shrinking in the same packaging none the less. Stealth inflation is real and is hits all of us. 

Well this morning ZH has  Bacon's Stealth Inflation - Pay The Same (For Less). Funny how the Fed claims there is no or little inflation. Their 'crapacity' is inflated as well. It seems they can dish out more BS about no inflation faster than my snickers bar can shrink. When will the lies stop? Never, cause they can't. Not even after we are in the streets turning America into something that resembles Greece will they stop lying. 

Of course in this 'recovery' phase where everything is coming up roses, I guess in the new normal such inflation is supposed to be a blessing. The “Economic Recovery” Continues: Businesses Are Being Destroyed Faster Than They Are Being Created and The Death Cross Of American Business need to be read in context with the above bacon post. You need to take in the thought that everything is geared for corporate welfare and everything else in this recovery is of little consequence.    

Somehow Feed the Beast and starve the rest became their concoction for growth and cure all for the economic 'recovery'. Somewhere since 2007 everyone other than corporate got left out of the recovery equation. No problem, right? LOL

I can rail on the Fed, their focus and lies for hours (I've done it for 5 years now). No need to impart more pain on you having to hear me rant when you know the situation as well as I. We're all so far beyond the BS. Bottom line is the corporatocracy has taken rule. Everyone and everything else is being sacrificed for the good of the great. It is no secret that they control DC and whatever they want or need will be met before the rest of us  - - - no matter the ultimate cost. 

This falls right into the Agenda 21 plans of the elite for those of you not in the know and still in the doubt phase of the UN's plans actual existence. This works well with the tyranny that is being established in this country and in the overall global dominance meme. Pay attention to what's developing folks. Things are not headed in a positive direction for freedom and liberty. Were headed down a road towards global serfdom. You could say we're shrinking just like that bag of bacon. 

On to the lie - 

I like down but fear up. they have to ramp it to get room above critical support or reach it if they can't and generate enough fear to un-taper and up QE (stealth or not). Been saying all that for a few weeks now and will continue till we get their next move. 

Minis 30m - Blue falling channel resistance held again. First the rising yellow channel into this resistance failed and now the green rising wedge into the same has failed. Green rising wedge support busted yesterday and is now backtsteing that. The 1874 -78 area I've been so focused on for over a week now has been a veritable wall against rising price. The red STB diagonal of death lies just below. There is a potential STB point tomorrow at 1874 green/blue intersection.

Hold on to your hats folks. this is about the fourth bearish incident in the last few days and things are primed for a tumble. If the do tumble Pandora's Box gets opened to all sorts of horrific technical scenarios. Again, I like down, but the Fed sees all this as well, thus I fear up.

More to come below.

Have a good day.

GL and GB!

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