Monday, August 13, 2012

Morning Charts 08/13/12 SPX /ES

Waiting on Jackson Hole and the belief that the Fed can make everything well again with one stoke of the digital printing wand is what we're reduced to at this point. Simply the promise or knowledge that the Fed will not allow market prices to fall under any circumstances is all that we can rely on now. Purely manufactured, liquidity pumped and hopium infused markets today reflect nothing more than the illusion all is well.

SPX Daily - No one knows what the Fed can or can not do regarding price movement. One thing that is for sure is that the upper end of price appreciation is nearing. I'm still thinking top and massive crash. I figure they have 6 months max before my "event" happens. We're going to see massive global turmoil much sooner than later and the food shortage timed with the financial collapse is not going to help the situation.

Minis 30m - The 6th day of low volume, low volatility consolidation here as we wait on Jackson Hole. This could be another really dull week. This market's goose should be cooked and any further upside should only improve the short's entry position IMHO. Just wait and be patient and let the trade come to you. Don't try and force it. Nothing is ever a certainty, well other than the eventual financial collapse, so let's just say the timing of these things is the hard part.

There really is not much to say other than rehashing that the PIIGS are busted and Germany can will not come to the rescue. MENA is a mess and getting worse. Japan is about to crumble. China is falling apart. The US is a data manipulated fraud. It is only a matter of time now folks. The tracks head right off the cliff and there are not brakes on the train.

GL and GB!

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