Morning Charts 06/10/13 SPX /ES

I've been writing about it for years. I've been telling people on the street for years. Everyone thought I was a nut. My rants and rages have been long and hard, but I have always spoken what I believed to be the truth the best way I knew how. My market corruption theories were proven fact, and now my government corruption theories have come home as well. Sadly, both were proven to be far worse than my feeble imagination could fathom.

I'm gonna let this PRISMgate play out a bit further before going to deep into it, but I will let you know my basic thoughts on the subject. Bottom line is the war between us and our government has begun. Sorry bout the analogy, but we're not going to allow ourselves to be hoarded on trains and be sent off to die. Some total idiot potus supporters will gladly do so, but the majority of us will take a pass this time. Maybe finally, before they got to write those atrocities out of the public school history books so we'd forget, we'll prove we've actually learned something from history.

So, will they be able to hang any of this on potus? Well, one thing that is for sure is the "it was Bush's fault" blame game no longer flies. One of two wrongs have happened on O's watch. Either he knew about it and directed all of this to happen which makes him impeachable, or it happened under his watch out of his control which makes him an impotent leader and impeachable. Maybe he'll come up with a new lie that is was all whitey's fault. He could not control the white establishment. Can't you see it coming? There is a bit of truth to that. Every potus is no more than a puppet, and in this case the establishment chose the greatest patsy to take the biggest fall for the job.

Remember, they must keep us divided as a nation for the establishment to retain power. Look at the results of the last election. A near 50/50 perfect split. They have us right where they want us. When the black man goes down for all of this you think the streets, already hyped to the max from economic despair, are going to remain civil? About the only thing civil coming is a civil war.

None of this started under O's watch. Sure he promised to end it all and brought hope that the ship would be set back on course. Sadly that hope was for the establishment and not the citizens of the US. You see, before 1999 the NSA had a back door into your computer thanks to Jobs and Gates and others and now we live in a world where the military brass ordering the troops not to read O scandal news. That's what I call progress, in the wrong direction.

The wars are coming. One will be global and the other local. Fortunately our government can't fight two fronts. They need a massive distraction and in a hurry. I've told you the markets are nothing more than a distraction to reality and we're getting ready to find that out. Prepare yourself. Oh, and if you think your funds are safe in a bank or investment account, you better think twice. Hell, for that matter if you think they are safe in dollars, you better think again as well.

On to the lie -

Back on the work computer, so I need to update the minis charts. The 40 retrace and neckline backtest was hit and has now busted. 1652 is the 61% retracement and the last line in the sand for the bears. Of the 82 good folks that have voted in the poll 58% do not think the top is set. I think it is a tough call, but I tend to agree. I'll prepare some prior top analysis to show you why I think some major volatility is coming, and why I think they have one last push in them.

SPX Daily - Not updated, but you get the picture. Like the 61% move in the minies, the 20dma backtest and the backtest of busted major red support here is a MAJOR point for the bears technically.

More to come below.

Have a good day.

GL and GB!