Well, apparently we are going it alone against ISIS after France and Germany declined our invitation to bomb them. Iran would go with us, but a no thank you was in order for them. Apparently Obozo has alienated the globe now. No respect I tell ya, no respect. Obummer even wears the red tie and dark suit. Sadly, he's not a comedian.
Sad when you are the potus and the most desperate democratic candidate in the most important election in decades would rather have flotus at their side than him. How low can you go? How low can you go? Maybe the Hawaiian (??) potus is in limbo mode and no one gets the joke?
All the geopolitical balls in the air, wow, so many, and if any of them hit the ground, BOOM! That's all separate from the global financial crisis. Pick your poison. Lots to choose from, all when the worlds most powerful man is basically in a fetal position whimpering in the corner after being abandoned by every support group he has other than the most alarmist and extreme of them all.
I've been discussing the abandonment of Obozo for sometime now and how dangerous that makes him, our enemies and these times. If our government can't pull it together sooner than later, we're in really deep trouble. In order to pull it together, Obummer will need to be eliminated from the equation. That ain't gonna happen. He's got a pen, a fascist dictum and whatever is left of his legacy to protect.
This country have never been more dysfunctional.
On to the lie-
The RUT as we discussed late last week is either leading or is setting up for one hell of a short squeeze. "Positioning among "smart money" participants in the markets continues to show major divergences. While large speculators bought S&P 500 contracts at their strongest weekely pace in more than a year - shifting to a net long position - they also increased the net short Russell 2000 position to its 'most short' in five years." Go figure, the insanity is spiking IMO. They can't have it both ways, at least not for long. Who knows, is it Time to worry? Russell 2000 hits 'death cross'
SPX Daily - Well, the turn yesterday was on no technical surprise. It should have been expected after the overthrow spike Friday and the setup. The only question is, will they stop buying? Seriously nasty negative divergences and the ultra narrow BBs we've been watching set up since the overthrow on the 16th are primed for disaster.
BPSPX - Whatever. Potentially the worst instance of falling slope yet. Maybe with the RUT in a death cross and the algos in full pump mode on the SPX they are defending all they can? The DOW pump started last week before all the rest.
More to come below.
Have a good day.
GL and GB!