They may be setting up Taper off. STB's greatest fear for the permabears. Bad news = Good news appears to be making a comeback. Never forget it's all about manipulation and control. STB believes they will use the rumor of another QE to prop up the markets till another QE is actually administered. All this will do is delay the inevitable.
A few headlines from ZH -
Bulk Shipping Bankruptices Begin As Baltic Dry Collapse Continues
Layoffs Surge 17.6% YoY, Shale State Joblessness Soars, Initial Jobless Claims Rise
US Trade Deficit Soars In December As Strong Dollar Hurts Exports, Downward Q4 GDP Revisions Imminent
Guest Post: Organizing Against Tyranny.
"For the liberty movement, the movement against globalization and forced centralization of financial and political power, lies are simply not an option. The internationalists have already cornered the market on lies, so we must take a completely contrary approach. We must organize around the truth, no matter how painful it happens to be."
On to the lie -
SPX 30m - Look at the first run from 1992 to 2064 back in early January and compare it to this one.
SPX 60m - Still hanging on to the descending triangle theory (Black). This is a follow on formation from the red rising wedge (STB call from October) breakdown and backtest, which if combined, and if plays out leads to the potential for much lower lows. This is a silver bullet setup if it can play out.
SPX 5m - Bully will like the break of red NT resistance and the backtest here, a traditional launching point. I remain bearish, but this formation here scares the heck out of me as a bear.
More to come below.
Have a good day.
GL and GB!
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