Morning Charts 03/02/2015 SPX /es

Let's not mess around, I know it's Monday morning and getting slapped across the forehead it not your preference at this time, but easing into the week is not an option. Why don't we have a little hard cold truth with our coffee this morning? David Stockman Warns "It's One Of The Scariest Moments In History"

"the looming collapse of free market prosperity and the desctruction of American wealth as policymakers "take our economy in a direction that is dangerous, that is not sustainable, and is likely to fully undermine everything that's been built up and created by the American people over decades and decades." The Fed, Stockman concludes, "is a rogue institution," and their actions have led us to "one of the scariest moments in our history... it's a festering time-bomb and we're not sure when it will explode.""

Sadly this is not a case of STB propaganda fear mongering. Reality sucks when to take off the lipstick and the veil to reveal the truth. IMO you might as well get used to it and prepare for what's coming. None of us know when but with $18 trillion in debt and over $95 trillion in unfunded liabilities we're in deep doodoo. Oh, did I mention the Fed and our glorious government fearlessly leading the way. Awe inspiring confidence right there, we're in great hands. If they can't help us the Central Banks all got our backs, so rest east America. 

On to the lie - 

This you must read if you have not seen it. Plain, simple, easy to understand, Here Is The Reason Why Stocks Just Had Their Best Month Since October 2011

"buyback announcements have surged with February ($98bn) posting the  largest monthly tally on record."

SPX Daily - for those thinking that the massive 16 point pullback last week was it for this correction .... well, you may be right based on the past five years of market movement, but on the other hand you can go with the technicals, collapsing economy, global banking crisis and other worldly epidemics that are poopooed by all. I'm still swinging my well timed short from the top on the 25th. 

SPX 5m - Here is the HnS that I was discussing last week. The good news is that we missed the RS ramp that usually comes to blow up the formation. Quite the place to open a Monday morning.

Freedom watch - 

I guess this meeting was held in the Constitution Free Zone in Texas? Feds raid Texas political meeting. This ain't right at all,

“In the end, at least 20 officers corralled, searched and fingerprinted all 60 meeting attendees, before seizing all cellphones and recording equipment in a Valentine’s Day 2015 raid on the Texas separatist group.”

More to come below. 

Have a good week. 

GL and GB!