It ain't gonna last - Biggest Short Squeeze In 7 Years Continues After Bullard Hints At More QE, OECD Cuts Global Forecasts. Life would be so dull without these Bullard and Hilsenrath 'moments'. I said "never" on rate hikes before, then if they did they would not last long - well ... Bullard Admits It's "Unwise" To Continue Rate Hikes, Says "If Needed" Will Do More QE.
As for my past thought on Oil breaking out with the next war - these spikes may be the precursor/front running of such a war. Erdogan is a complete idiot and he's got a whole bunch of boneheads following him (mainly our bonehead potus who must have a war to have any legacy).
On to the lie -
Both below lead to lower highs with potential for larger breakdowns.
SPX Daily - I'll just pay attention to that falling megaphone pattern till it all falls apart.
DOW Daily - there is a potential large falling triangle that stands out here a bit more than on the SPX. Also another HnS situation exists here. A HnS inside a falling triangle is really not a good situation.
Freedom watch -
Sheepishly written, could be a lot better. The Case For Outlawing Cash
More to come below.
Have a good day.
GL and GB!