Happy New Year!

Happy New Year! Blow it out and have a great time!

Here is a gift for you!

Here is a present for you bears. This chart should indicate what all of you have been waiting for all year. I regretfully can not cal a top here in the face of the Fed's mandate and POMO, but in any normal instance I would most likely be doing so.This is the second chart in my chartbook.

Morning Post

Bears better make hay today and in the shortened session tomorrow. POMO comes back with a vengeance on the 3rd. Remember not to fight the Fed. Benny and The Ink Jets has promised to keep the markets afloat and he's doing a fine job with that so far. Bears may get a hand when the Fed must support the muni markets in '11 with a heavier hand. Other "needs" will begin to rear their heads in '11 as well. Supporting the EU will become a major issue. All this leads to a flat controlled market with limited upside from here.

Bears will have to remain patient. I believe the econ indicators and earnings will begin to weaken in early '11 and then really fall off later in the year. This will damper markets but not cause the crash. We're gonna need the exogenous or external event I have been calling for to end it all. When that finally happens it will be a game over situation, and I'm looking for martial law to be in effect soon after.

Martial law Shanky? Seriously? Yup, when the SS and pension systems totally collapse you are gonna see the FEMA camps come alive as all the pent up frustrations finally boil over. They can possibly extend this nightmare till 2012, but I have my doubts. I believe the markets will top in February or in the summer and when they do you better have fuel and food. I plan on doing a big write up for the new .com blog for 2011 predictions.

I will be consolidating everything into a new .com site that will be better for everyone. More info on more topics that will free me up to have a broader base. Calling the markets and charting will be primary focus, but getting back into ranting and writing will be much more prevalent. Spreading the news and enlightening the readers will eventually become more important than anything (as long as that will be allowed by the government). With what I plan on writing and posting, I suspect my "handler" (if not already) will have me flagged and a room at the nearest FEMA facility ready for me to occupy.

Thanks to everyone for another great year on the blogs.




Daily SPX - Setting some sort of top. I am in the camp where we need a slight corrective of some sort and then one last pop before overbought/fraudulent conditions finally catch up with reality.If that MACD crosses it should trigger some sort of selling. Divergences are prevalent indicating overbought conditions. Even the weekly charts are becoming extended overbought.

GL and happy New Year!

Morning Post

On vacation all this week so minimized posting. Sorry. Still keeping the Dark Side up as much as possible with intraday charts and calls. Link is on the right.

Dollar and SPX - Corelation is dead. The PPT POMO team are winning.

Weekly SPX - I don't think it gets to the upper diagonal at this time. It is in my target box that some struggled to believe possible. I have 1283 as my target. Looking for one last corrective then the top gets set. Daily chart divergences are nasty and the 60m looks pretty bad. I finally started putting on some shorts yesterday (SDS and TZA for this ST corrective I am expecting). 

This is where I am in Crested Butte,.CO

GL and Happy New Year!

Morning Post

Just starting ski vacation in CO and working on a computer that needs a lot of help. I should be up and running just fine this afternoon. Plan on doing several posts on dollar, oil, EUR and more.

SPX Daily - I think there will be one last small corrective and one final pop. 1283 has been a good target all along. As I have been saying all bets are off after Xmas and I have been forecasting a top in late Jan early Feb.

GL and thanks for your patience and support.

Happy Boxing Day.

Morning Post, SPX, S&P 500, e-mini

Today is a travel day for Shanky. Headed to CO to ski with the family. I will be working each morning as the time change will have me up bright and early. I'll be hit or miss in the afternoons. If the markets are hot and moving I'll be here for sure.

I hope everyone had a great Christmas. We had a special one here in GA as it was my first white Christmas ever (first in over 100yrs on GA). Good omen? Mama got a .38 cal with a lazer sight and the kids got .22 pistols!

China raised rates. Not sure what this week will have in store. Earnings season starts on the 10th with AA. It is after Xmas and all bets are off . I'm thinking late Jan - early Feb for top spot, but it can happen any time and could be in.

Gonna be time to buckle down and get really serious after the 1st. This is gonna be a big year. Defaults, violence, market crashes. We're all gonna have to be on our games.

Thanks for the support and GL!

Merry Christmas

HAPPY HOLIDAYS AND MERRY CHRISTMAS!

Morning Post, SPX, S&P 500, e-mini

Boy this market looks sick. Will my all bets are off till after Xmas call make it to the big day or do we top before (like yesterday)? Either way it is time to start looking at what the fib retracements are calling for. That 5=1 measurement of 1283 is in the neighborhood. Stopping just shy would not disappoint me. Based on the counts we should be very close, but there is this slight problem called the Fed and POMO. Gambling that a manipulated and controlled market that has destroyed divergences like Optimus Prime beats on decepticons has proven to be a fools game, but maybe this time will be different. I'm still a believer that my external event will be the catalyst. It may not mark the top but it will be the one event that will send the markets into that final tailspin they will not recover from.

Economic Calendar -  GDP tomorrow. Please ALWAYS check the calendar. 

POMO Schedule - We'll most likely have POMO from now to infinity or till the systemic failure that is destined to come. 

Shanky's Dark Side - Where I call all the intraday action and throw out tons of charts.

Pivot Points -  For what they are worth in this busted market

SPX Daily - Little different view than yesterday. Look at this chart closely. The support line under the MACD and the TRIX (not drawn) are running out of room. Looks like February will be the max (who's been calling for the top late Jan/early Feb with an all bets are off after Xmas kicker?) $BPNYA is above the red market top line. Divergences are everywhere in a market that should have (would have under any normal circumstances) topped back in November after the QEII announcement. We're in some extreme conditions up here.

My CPC chart is quite ominous for the bulls. We're close.

Note the dollar is butting it's head against the $81.11 resistance level. $80.65 support here. Has been range bound the past week. The dollar and SPX are running together. This is not standard operating procedure.Something should give here sooner than later.

The 2007 highs are not that far off which should be disturbing to all except the Fed (bubbles do not exist to them). Divergences all over the place with over bullish sentiment are the norm these days, but they keep on pushing the bar higher. EOY prints will be where they want them if they can keep this up. The struggling hedge funds are working overtime to get their heads above water (like some here, the smartest in the world all got burned being short).

Santa comes tomorrow night. I hope he has something good for you. I also hope you are enjoying the season. GL!

Morning Post, SPX, S&P 500, e-mini

IF you believe this country is actually growing I have some ocean front property in AZ for ya at a bargain price.  To witness what it must be like to live under a socialist government that controls everything is quite fascinating if not frustrating. Knowing the reflation experiments will ultimately fail and cost us more than reserve currency status is quite horrifying.

Economic Calendar -  GDP tomorrow. Please ALWAYS check the calendar. 

POMO Schedule - Largest on record $17b today followed up by $11b tomorrow) We'll most likely have POMO from now to infinity or till the systemic failure that is destined to come. 

Shanky's Dark Side - Where I call all the intraday action and throw out tons of charts.

Pivot Points -  For what they are worth in this busted market


As I have been saying, after Xmas all bets are off.

SPX daily - divergences are strong and being set off previously overbought conditions make a nasty brew.We're about to enter blow off top scenario.

I hope all of you are enjoying the season. We're busy, and I'm winding down as are the markets as vol should go away. Can still get some movement. POMO still very much alive and well.


GL and happy holidays!