Yes, the Fed is going to raise rates into this - Dow Dumps Over 300 Points From Thursday Highs After IEA Warns Oil Glut To Worsen - uh, OK. IF you think the markets are tanking cause the oil route, think again. Everyone is looking for any excuse to get out, any excuse. I've been saying it for years now, when they exit, they will all try and get out at once.
From one of my favorite all time experts whose been ahead of me on this credit destruction and doom cycle since the 90's (he's the first financial expert I ever thought spoke the truth and saw reality for what it was - he put me on this train I conduct many years ago) - Jeremy Grantham Urges "Easily Manipulated" Americans To "Become More Realistic" About World's Demise
On to the lie -
SPX 30m - Looking like we had a breakdown of the consolidating gray wedge to lower support and then a backtest of busted support and this morning the follow through collapse to take out all NT support - all happening under the key 2064 s/r area. We had two scenarios Wednesday - glad my bearish lean was correct.
Daily SPX - Perspective and the potential HnS I've been showing for months - works rather well with a Grandma disappointment next week.
Freedom watch -
Cause this may be the only option - Texas Police Chief Warns Obama Of "Approaching Revolution", Urges Citizens To Arms Themselves
Well, someone I know the moment this happened told you what to expect (lies) and just how bad it would be - TEPCO Admits Fukushima Radiation Leaks Have Spiked Sharply
this is the most dangerous threat to the globe besides thermo nuclear war.
Christmas note -
Don't be a Charlie Brown - "Charlie Brown, you're the only person I know who can take a wonderful
season like Christmas and turn it into a problem. Maybe Lucy's right. Of
all the Charlie Browns in the world, you're the Charlie Browniest. "
More to come below.
Have a good weekend.
GL and GB!