Other than the Ukraine and the possibility of WWIII breaking out any second, the news is rather quiet. I mean you have your standard Syria, MENA, PIIGs, EU, China, N. Korea issues. Then you've got all the economic and financial stuff like employment, debt and reserve currency blah, blah,blah as well. Then you have our government running the whole show. I mean, all seems pretty good right now so why not have markets at ATH's? I mean, like, what's the matter?
Seriously, the DOW hits fresh ATH's yesterday and we got Jay-z in an elevator fighting with Beyonce's sister. Who in their right mind is paying attention to anything the government is doing? Apparently things are well under control. Move along.
That said, let me throw this out -
Rev 18 3:
"For all the nations have drunk
the maddening wine of her adulteries.
The kings of the earth committed adultery with her,
and the merchants of the earth grew rich from her excessive luxuries.”
On to the lie -
Well, guess who dodged yet another top call bullet? Shuh, yeah, right, that'd be ME! How you may ask? What is the great power does this man possess that allows him to see markets and stay where others fear to dwell? If I were working at some major bank or investment firm I would be considered one of the best, maybe even better than Cramer, market prognosticators out there. I'd be in all the magazines and on CNBS at least weekly.
LMAO - there is no secret or power or special ability - I have the ability to separate fact from fiction, that's about it. I have the ability to check my brain at the door every morning (that's probably the best superpower I have). I have the ability to see a rigged POS market and know that it is under complete control. I know a lie when I see one. I have patience.
I may have some special talents. I can point to the STB external or exogenous "event" call from 2009 as one particular moment of brilliance. I can point to my follow the Fed mantra from 2011. I can go with my "unprecedented manipulation" call from August 2012. I can pull out a few STB points and the STB Red Diagonal of Death. None of that is important. Now my 2012 "God is dead" call is everything, but let's not go there today (see Babylon above). I am a simple market Sherpa. My job is to do the best I can to tell you what I think is right and fortunately (for all of us here), I've been one of the best. My track record over the five years I've run this blog is rather remarkable.
You must buy into the conspiracy. You have to 110% know that they are in complete control. Not until some "event" forces their hand will they relinquish anything. You must realize that this market is all they have left. It is the great illusion that all is well. That their policies and all the additional debt have been a success. That the economy is not crumbling. That the dollar is safe. DOW at ATH, move along.
What have I been saying? I like down but fear up. They have to ramp it to get room above all the critical support that's rapidly approaching from below. They MUST keep the markets up or else. They can NOT let it crash - we've been saying/knowing this for literally years here. OWN that thought!
However - they are almost out if time technically. The first technical "top" came 1/1/13. This was the point of the first great technical overthrow. In mid 2011 I called that it would all end in Q1 2013, and it should have, but then came QE4eva and the rest is history. I had the balls to look a year and a half out then and here we are a year later than that still rolling at fresh new ATH's. This house of cards will fall soon. Everything above 1475 will turn to dust. That's 400 SPX points or roughly 4,000 DOW points that will, I believe, literally be evaporated once my "event" hits. The charts I have been pointing to over a year now say June, this June, they should not be able to carry it beyond then. I believe TA will get the call right. I've believed it all along. They can't outrun price.
I suspect you will finally hear me call a top within the next month or two. Right or wrong, anything above here (really anything above 1475), will all be taken back so fast once things turn it won't matter.
MOST IMPORTANTLY - Let me add that none of us want what's coming after the collapse. Once the veil is lifted on reality it's gonna be the scariest damn thing you've ever witnessed.
Weekly SPX - Just follow the diagonals on the indicators, the yellow boxes, the vertical red line and the marry that to the rising wedge above. We're close. This chart and the monthly have been the two things that have kept me in the non-top calling game. I can not wait much longer.
Minis 4hr - You know all the numbers and points by now - I'll cover this more below. 1903 is upper green wedge resistance. If it hits 1912 I may call a top. Then again, would it not be appropriate at this point for them to end it all overthrowing THREE rising wedges (red, yellow and green) all at the same time to end it all with a bang?
More to come below.
Have you shared STB today?
Have a good day.
GL and GB!