|Christmas in Deflation Land|
It's the holiday season here in the PNW (and probably where you are, too), but the jury is still out whether we have a new bear market on deck. We got our "one more higher high" per Bryan's model of serial highs going into historical tops, and now we are sitting up at the top of a parabolic move with no significant corrections. Commodities and shit speculative credit ("high-yield") are in decline, and it's high time for the indexes to take a dive.
Let's take a quick review of where we are with respect to the Bollinger Bands on the various indexes. At the moment, the S&P 500 is our lone holdout -- its upper BB was at 2084 SPX on Friday. A few comments on the charts.
Blog regular and upright Illinois citizen Bicycle has been engaging heavily in fantasy bearishness lately, drawing trendlines to zero and other such nonsense. OK, I'll play.
Here's my take on the chart to OMG zero which includes my interpretation of Martin Armstrong's 2015.75 date for style points as well as shits & giggles. Also, it's got fibs! Eat that, Bicycle.
|SPX chart to ZERO (hint: your brokerage is broke)|