Taper this, taper that, blah, blah, blah; they are baffling you with BS folks. FOMC is a week from today and they all have their talking points they need to get out before the quiet period. Of course the BLS BS data manipulation is in full riot mode as they position the data points for maximum confusion and disparity.
If the data all pointed one way then the direction would be clear. It would be a no brainer call, but that would be disastrous. They must have division and confusion. This way they can do WTF they want when and how and never be wrong. Simple! They print enough good data to give the illusion a recovery is happening, but on the other hand enough bad data where they must continue to support and ease. You should feel that you've been fed a line of shit a mile long at this time squared.
Sorry, I'm not copping out, I'm just being a realist. Some people don't get it, thus I feel a need to say it over and over again. Maybe my best attribute is my ability to see thru all the BS, cut the crap and see things for what they are. Charts schmarts, fundamentals bundamentals, it's all a load of crap. The markets are 100% manipulated and controlled. You go ahead and spout all your data points and inventory numbers and whatever metrics you like, go ahead and analyze your little ass off, it is all a waste of time.
Nothing is real anymore and they are so far down the rabbit hole that there is no turning back. We're now 100% dependent on the Fed and Treasury to print and buy in conjunction with the BLS BS to support what's left of our rotten economy.
Minis 60m - Top end of the green rising wedge. Yesterday I noted the resistance that would be provided by the red and gray diagonals and they did their job so far. Over the past few weeks you can clearly see how they have been in play.
Minis 4hr - Green wedge update - yesterday I lowered the lower support diagonal to pick up the lower low and create a new support. The old green support is still there, but is now dashed green. The key downside point is blue support near 1785, so we should not have to worry about that today.
Volatility is the name of the game. I've been talking about it for months now and told you it was coming. I've been right on many fronts, but the main point is that I have not called a top. I have not done this cause I am 100% committed to the Fed being the master of our universe and architect of the Matrix. Pay attention to the taper talk. That is all that moves the market today. Oh, and don't forget they can't let the markets fail or their illusion of a recovery fails with it.
More to come below.
Merry Christmas and happy holidays.
GL and GB!