Minis up 5 as the dream is kept alive via duct tape, rubber bands and a really savvy MSM misleading the public perception.
Just like Napolitano stretching the truth about the catastrophic oil spill to the nation (h/t
Rich Cash) you have lies about the strength of the economy coming from everyone in the finance industry that prey on the innocent for their bonus structure. These people can tell you with a straight face that things are getting better and nothing is wrong all the while we have FNM and FRE, Debt/GDP, marked to fantasy and a slight unemployment problem all like a 500 ton boulder over our heads hanging from a thread. Oh, and regulation, fhugedaboutit. Regulation is the one thing that would stop the charade, thus we can't have any or it all comes crumbling down. Paradox you say? If you fix it it all falls apart.
Quick look at the minis. 60m pretty nasty divergence on MACD and one possibly on RSI. Lots of lines on this chart. Bottom line is it fought it's way back into the P2 wedge (the two yellow lines). The blue wedge is what I think defines this corrective. The weekly minis are slightly weak and the dailys are possibly bottoming and showing some strength.
I'm still as unsettled as the markets I have various time frames saying conflicting things and rally can not commit to any direction. I am recommending you remain on the sidelines. Yes, I am very (extremely) bearish, but the fascist/monetarist regime is fighting back. This is like living in China now, where the people have no voice or control and the government will do anything (real or not) to make it all appear to be A OK. Narrow range on the markets for a couple of days may continue. Stay in cash for now. You all come here cause I have made some fantastic calls over the last year. I believe I am pretty timely and consistent. I love to play this game and I'm good at it. If I can't see anything clearly, then that tells me not to play. GL!
