Friday, September 14, 2012

Charts 9-14: Most bearish case

I suspect that we may have had a failed 5th-wave on the blow-off top today, right at the 1470.0 mark.  See the chart for the trumpet-like expanding wedge shape.  Our old friend Lunatic_fringe would dig this one.

There is a New Moon on Sunday night; these often mark tops.  In this most bearish case, I postulate that the Israelis may give up on their neighbor to the east and decide to take care of business.  I certainly support them and send best wishes out to Team David.

The equity markets may just sell off a bit on the news ...

F-16s over Tehran?

1 comment:

hettygreen said...

Too many people are expecting (hoping for) this scenario, at least from what I read, therefore surprise value minimal. Anyway, haven't markets loved war since the beginning of time? Now, some sort of huge election kerfuffle followed by somebody in the military channeling Alexander Haig (and who doesn't have a particular soft spot for the Fed or an imperial Executive) might lead to something far more unanticipated and interesting...