So, they are finally getting around to telling us what we (at STB at least) already know? Icahn, Soros, Druckenmiller, And Now Zell: The Billionaires Are All Quietly Preparing For The Plunge. This post is quite the read.
It bothers me a bit that the 'experts' are getting in on the coming debacle/crash/implosion meme. Aren't they supposed to keep the sheeple in the dark till they get out, or are they out already? If they are out already and positioned, then the world of hurt may be coming sooner than later. You know these folks have all the inside scoop. They don't work with information that is stale or current, they work knowing the future.
Following up on my LOL dollar strength, watch oil and gold from yesterday - just see this "God of Crude Oil Trading" Goes All In On Crude At $150 Bet. This nicely follows (confirming) the above post. Bottom line, destabilization across the globe is not going to improve and only get worse, there is only one way for gold and oil to go when the SHTF (and it will). Don't forget the VIX while you are at it. I think she's about to make a comeback to being relative.
And to sprinkle a bit more gas on the fire - Market bears now scarcer than any time since 1987
On to the lie -
SPX Monthly - Negative divergences are starting to form on top of negative divergences as we come close to nailing the perfect cycle top.
SPX Weekly - Neg divs worsening and my indicator support lines are getting abused. According to the indicator support lines, this run should have ended probably twice by now, which I think is accurate. Bottom line is we're very close to the technical limit this market can achieve.
"Event", it's just a matter of time now. Hang in there and be ready. We've been waiting patiently for years for this moment. It will come. The scary part, we may not like what happens after things start to let go.
I have a meeting this morning that will keep me out till 10:30 or so, so I'll see you then. Oh, and I have to leave early to travel for LS football game.
More to come below.
Have a good day.
GL and GB!