Gartman being short is not helping the bear's situation much either. We're seeing some serious desperation.
On to the lie -
From the After Blowing Up Its Clients With Its "Top 6 Trades For 2016", Goldman Has A New Trade Recommendation post -
"Once again: average or progression, because if extrapolating the trend from the past 4 recessions is any indication, then the 2016/2017 recession will see a collapse of roughly 75% peak to trough, putting the S&P somewhere just around 500."
SPX Monthly - Just around 500 they say. Well someone around here is about three years ahead of the 'experts". The chart has moved or recalculated and needs to be adjusted. I have not touched this chart in three years, and the target box should be covering the range from 750 to 450.
SPX 15m - OK, last week I discussed the reforming of the rising wedge. The lowering of the support diagonal to create a better formation that allowed a bit more room for slightly moar upside. These initial ramps get too steep and need to morph into something that's more technically sound. the pop this morning is going to cooperate with my thought process.
SPX 60m - 1946 area is now key resistance. Above that, which is possible, then the old 1990 (floor or support for the middle consolidation area) becomes the next key point.
Freedom watch -
Well, STB's time may be running out - DOJ looking to tweak PATRIOT Act and prosecute anti-government "extremists"
Just for fun - and cause you know I believe disclosure is coming sooner than later - this is old but new news - Was it Pink Floyd? Apollo 10 astronauts heard mysterious 'music' on the dark side of the moon, newly uncovered tapes reveal.
More to come below.
Have a good week.
GL and GB!