Well, that's usually the case. When you get into the daily chart below, it's not exactly clear how the Fed will be able to make a push higher given current technical conditions. Of course we've seen the most dreadful 4 or 6 consecutive negative divergences raped by the fed before. To see another offensive act by Team Manipulation would not be a surprise.
When you are at home enjoying the first week of summer do you think they want everyone discussing the recent market collapse? Hell no. They want your retirement and investment accounts fatter than the fatted calf. It's after one of these holiday highs they are gonna pull the plug I suspect. This or the 4th would be the best times to do such. What it depends on is how and when Greece works out, what they want timing wise and when they plan of unleashing QE4. I still contend that this fall has potential to be the time of THE top.
Pay close attention to Greece - Shape Of Greek Endgame Emerges: IMF Discussed "Cyprus-Like" Plan After Tsipras Warned Of Looming Default.
This week will be VERY news heavy with Evans speaking today going all the way to Friday when Yellen speaks. If I were you I'd hold my cards tight to the chest and react to their news and try hard not to play ahead of it.
On to the lie -
SPX 30m - I'm still looking at that IHnS (the HnS is fading but still in play till a higher high). Their problem is price does not like to stay above that black diagonal very long.
Freedom watch -
Catching the "government" in a lie is not good, especially one as big as this. You must read Lapdogs, redux: How the press tried to discredit Seymour Hersh’s bombshell reporting on CIA domestic spying.
Another thing I've discussed for years here on STB is the coming cashless society - the ultimate government control point. They want to be able to tax and track every purchase (oh, and don't forget they also want to be able to control the distribution of money - that would mean your money to everyone else). Please see Leading German Keynesian Economist Calls For Cash Ban
"the world could always ban cash because if you eliminate physical currency and force people to use a debit card linked to a government controlled bank account for all transactions, you can effectively centrally plan everything."
More to come below.
Have a good week.
GL and GB!