I'm tired of regurgitating this crappy ass world we live in everyday here at STB. For a while I cocooned because the SSDD just got old as hell. I mean the economy is failing, a gazillion people are in dire need (in the richest country on the planet - to those international followers of STB you need to insert whatever BS your governemnt is doing to you here - this theft and need thing is new to us spoiled ass Americans), the MSM lies about everything, the banks are stealing everything, our court system has failed us (Roberts), what is not owned and controlled by special interest groups will be soon, everything is a lie and we're living in a time that our forefathers would never have fought and died for.
I'm on vacation this week and have enjoyed the heck out of it so far externally, but with each ride on the bike or whatever event the kids and I are doing (we're rock climbing today), I'm just churning on the inside knowing that in the future my children will most likely be microchipped, vaccinated, forced to eat what is "right for them", they will have some sore of government issued job, they will not be able to hop on a plane or get in a car and travel to enjoy this wonderful planet, and on and on and on.
What does all of this have to do with the market? Well there are about 1,000 references. These will be explored in excruciating detail in the AD posts to come. Bottom line and the root of all the evil is the corruption and control of the markets (and governments) by the Central Bank elite POS assholes that are destroying and stealing every ounce of wealth ever crated in this country to try and save their ass from destruction. It is the bullshit monetary system created by the Fed where we trade every hard earned asset we own for their fiat BS currency.
That brings us to this morning's topic (and regurgitated here over and over and over again) bailout nation. All that matters, the only thing that matters, is who prints what and when to save the system as we currently know it this week. Printing is bad for a trillion reasons. Printing creates debt and devalues currencies. When debts get so large they become unsustainable (like ours is now) and you keep on printing (or manipulating currency values) to avoid certain financial implosion, you only make the problem worse.
Well, all the EU or our Fed or whichever GS implant is discussing right now is which insolvent entity will print to bail out the other insolvent entities so the farce can be kept alive. That is it. The markets (100% manipulated and controlled as to keep the illusion alive that your savings are safe and sound) react to stimulus, extend and pretend, kick the can, whatever you want to call it and nothing else. IMHO the SPX has every right to be at about 400 right now but here we are almost 1,000 points higher all because of one big lie.
So we play the follow the Fed game and wait and react to what they want the market to do. I've been discussing this for years here on the blog and have tried almost every morning this year (since I was in this exact chair last New Years). Whatever you have learned over the years, whatever was right in your trading world, whatever you relied on is all dead now. The only thing that matters is what the banks decide.
Of course I will go into all of the above in much more detail in the future, but for now, all you can do is what I have consistently recommended - be a gangsta trada. Hit and run, long or short, scalp or very short swings with whatever momo the market has. Play the rumors and get out. You have to play the market, NOT WHAT YOU KNOW IS RIGHT. You have to enter their false reality like falling thru a wormhole into another dimension when you sit down to trade every day.
Nothing is real here and you must realize that. What will be real is when the system fails and this crash makes 2008 look like a minor dip. More on that later. I do believe in TA. I think it is the last real thing (numbers never lie). But to trade TA these days you have to combine that with the Fed and the ECB's (or whomever is in control at the time) moves. The times telegraph themselves, just wait for meeting non/results and place your bets accordingly. My charting has fallen off a bit, but my market calls are as clear as ever. This is not hard folks, follow the charts, but always defer to the rumor or bailout du jour.
They are losing their grip and we're nearing the end game.
Destroy the dollar as hope for the euro once again grows. I have no clue what that BS was Friday, but I'm glad I was not around (well, after I wrote that lovely post) to witness it. Is anything better today? Really? Will things get better? I did not think so. We just have to deal with their BS and this is why I warn about getting too lopsided in a trade and to remain nimble.
SPX Daily - The last major resistance before we enter the land of lollipops and unicorns (which we do not stay in too long). I'm watching that wedge. The double diverging top on the NYMO is not a good sign for the bulls. A quick prance to a double top at 1420 (not saying it will - 1374 is as high as I have been willing to go) would make for one nasty set up if they should take it there.
Not the best pic, but the minis are overthrowing the multi year wedge, meaning this is near the eng and the target is a lower low.
Minis 4hr - a little too excited and they may have gotten ahead of themselves as the wedge and resistance busted here.
The wedge on the minis and 1374 resistance -
And absolute wads of resistance running from 1368 to 1400 -
Enjoy your holiday week. I'll have posts up every day. I may bitch a little in the afternoons or on the 4th to blow off some steam and to thry and wake up the sheeple and turn them from the slaughterhouse doors. If you don;t mind sharing the posts here you like and find worthy with people that need to be awakened that would be awesome.
GL and GB!