As for the rest of the bad news, it's getting to diverse and abundant for me to even attempt to cover it here.
On to the lie -
Well, someone here has been on this larger HnS formation for weeks now. Nice to be ahead of the game with STB! Did anyone see the HnS the 'experts' are pointing out now in What's Next For Apple And The S&P: This Is What The Charts Say.
The "Our take" last two paragraphs of this post are really good. What have I been saying? They can't let it fail, but they don't have the power to lift.
"Our take: now that everyone is suddenly turning bearish, especially recent cheerleader Goldman warning of a "big drop" in the days ahead (not to mention Gartman) and chartists seeing sharp downside (not just BofA but UBS recently as well), expect another major round of substantial jawboning from central bankers who can not afford a downward inflection point in the market at this point, especially now that China's record loan growth has suddenly ground to a halt.
How this may manifest itself is through a few sharp days of "forced buy-ins", leading to a spike among the most shorted stocks in the days ahead, although now that the weak hands have all covered, it will be far more difficult to unleash the kind of record squeeze that pushed the S&P500 from its February lows of 1820 to just shy of new all time highs."SPX 30m - What, we've been discussing this setup, the rollover and much more for month's now.
SPX Daily - Rising wedge (reformed 5 or 6 times) to resistance to breakdown and rollover blah, blah, blah - we've nailed this thing for months - now the only question is - What do they do now? We can all see and know precisely what SHOULD happen, but it's their game, they make the rules, they control all. Sadly my latest financial timing models are all becoming based on whether the government is ready for complete economic failure, complete takeover, to fight the coming revolt; and they are not - so they can't let it crash yet. This is not saying they can't survive a major dip to 1575 or down to 1810 again. As usual let's walk this thing down and not get overly doom and gloomish quite yet.
Freedom watch -
The Orwellian nightmare continues to be exposed - 'exposed' because it's in place and you just don't know it - FBI Agents Busted For Planting Hidden Surveillance Microphones In Public Places
More to come below.
Have a good week.
GL and GB!