Tuesday, August 2, 2016

So I have us in "green 4"

We're currently correcting the thrust up from 1991 SPX to the 2170 area, where we started that historic sideways move.  



This continued wave 4 will frustrate speculators looking for a big move right now, taking another 6-7 weeks to chew its way, like moths through an old Pendleton shirt, down to the .382 retrace and an important support trendline around 2104.  The overlap from this correction will help us identify a much larger ending-diagonal pattern and expanding wedge that will terminate the ghost of Irving Fisher reflation rally since the 2009 (year) lows.

Real bad stuff will follow, with breathtaking speed.  And why should it not?

SPX topping at last in 2016

18 comments:

Anonymous said...

Another weird BPSPX print. 20.80

http://stockcharts.com/freecharts/gallery.html?$BPSPX

Anonymous said...

The puckish wit of Mr. CG; man, these Photoshop images are cracking me up! How did a U of C computer-geek get so hip? You're too young to have checked out Baby Face Willette on the South Side.

christiangustafson said...

The full-disclosure; this meme is from Dankmeme.net.

There are a number of other memes I will be posting here soon enough.

TSE said...

C'mon CG - didn't you actually mean "Luck Be In The Air Tonight"?

Luck Be In The Air Tonight

Of course, then you've moved from the Green to the Brown.

Steely Dan - Don't Take Me Alive.

Gotta love Steely Dan.

The Fed will stay solvent longer than you can stay sane.

The modern money mechanics use *PURE MAGIC* - "NO- THING" - which is surrounded by Brackets which encompass a Null Set comprised of NOTHING.

NO - THING. Three things in one.

The Trinity.

Continued....

TSE said...

From J. Robert Oppenheimer:

"I am become death, the destroyer of worlds.

along with

Trinity and Beyond

AND, just for fun...... OH NO! GODZILLA!

Continue to buy the dip.

Anonymous said...

Bear confirmed, back to bull confirmed on BPSPX within 24 hours. Move along folks, nothing to see here.

john said...

Mr. TSE has me listening to Steely Dan's greatest hits for the first time in 20 years, wow.
Is it me or is gold not allowed to break 140,000 yen? every time it gets near, yen gets safe haven bought.

christiangustafson said...

Starting to look like we touch the top of the giant megaphone a little earlier than expected?

We may not have to wait 6+ weeks for the market to get exciting again after all.

Bryan Franco said...

You think this could be all of it? Bonds down too with market?

christiangustafson said...

I will look at this over the weekend, particularly the 1987 crash cycle, which had 8/25 and 10/19 as its book-ends.

Such a crash is ABC, where the A-wave projects out the final target for C. Look closely at 1987 again.

ANYTHING that is hard-disqualifying of HRC for POTUS, any body floats to the surface that dooms her effort, MUST be considered a Black Swan. The PTB absolutely cannot allow a Trump Presidency. It absolutely is the reset of the system, IMO.

Bryan Franco said...

I agree. This election is a total tipping point for a lot of things.

Anonymous said...

"ANYTHING that is hard-disqualifying of HRC for POTUS" You mean like this?

http://www.snopes.com/2016/08/04/dnc-lawsuit-process-server-shawn-lucas-has-died/

TSE said...

Janet always "gots your back"! LOL. It's *PURE MAGIC* And besides, numbers are confusing, because there are so many and they are all different. Honestly, I can't tell one from another. More HUBER please....

Fri- Day - Hi - Day! How you get there is your choice. Diversity rules the 21st. C

Stocks Soar To Record Highs Thanks To Biggest Seasonal Jobs Adjustment In A Decade

Everything is AWESOME and JOSIE
just breezed into town - on vinyl playing at 33 1/3 RPM. Let the Party begin.

Got some true Chicago Blues for ya on this Fri-day Hi-day! View at your own discretion:

"The Master of the Telecaster" - RIP - Albert Collins - If trouble was money

On your way out - don't forget your Big Black Cow - and get the Hell-a out of here!

TSE said...

"ANYTHING that is hard-disqualifying of HRC for POTUS" You mean like this?

But it's the Year of The Cat.

Look HERE!

Diplomatic Scandal Erupts After Turkey Calls Austria The "Capital Of Radical Racism"

TSE said...

Chicago is set to burn - so glad I left SE WI:

*WHOOPS* Be sure to watch the video

Paul O'Neal shot and killed by Chicago police

Last week Paul O'Neal was fleeing from police in a stolen car. He crashed past one police car, and cops shot at him. He then veered head-on into another cop car, bailed, jumped over a fence (being more agile than any of the chasing cops), and was then shot at again. One (or more?) of these shots hit O'Neal in the back and killed him. O'Neal did not have a gun.

For more check out SCC

More Huber, please: Albert Collins & Debbie Davies - I Ain't Drunk ( I'm Just Drinkin' )

It's safer to bet on stocks than live in Chicago! Stats so far for 2016, courtesy Hey Jackass!:

Shot & Killed: 374
Shot & Wounded: 2115
Total Shot: 2489
Total Homicides: 414

Looks like the safest place in the U.S. might be in the "American Redoubt".

From The Economist:

The last big frontier

A movement of staunch conservatives and doomsday-watchers to the inland north-west is quietly gaining steam

ASKED by an out-of-stater where the nearest shooting range is, Patrick Leavitt, an affable gunsmith at Riverman Gun Works in Coeur d’Alene, says: “This is Idaho—you can shoot pretty much anywhere away from buildings.” That is one reason why the sparsely populated state is attracting a growing number of “political refugees” keen to slip free from bureaucrats in America’s liberal states, says James Wesley, Rawles (yes, with a comma), an author of bestselling survivalist novels. In a widely read manifesto posted in 2011 on his survivalblog.com, Mr Rawles, a former army intelligence officer, urged libertarian-leaning Christians and Jews to move to Idaho, Montana, Wyoming and a strip of eastern Oregon and Washington states, a haven he called the “American Redoubt”.

As for doomsday itself, redoubters differ. Mr Rawles considers the most likely cause to be a geomagnetic solar storm like the Carrington Event in 1859, when a coronal mass ejection from the sun generated sparks in telegraph lines, setting some buildings on fire. Had the nearly 3,000 transformers that underpin America’s grid existed then, a quarter of them would have burned up, according to Storm Analysis Consultants in Duluth, Minnesota. Some redoubters have signed up to receive a National Oceanic and Atmospheric Administration alert of any approaching solar storm like the big one that blew across Earth’s path on July 23rd 2012, missing the planet by days.

Alternatively, a nuclear explosion 450km above the central United States would produce enough high-energy free electrons in the atmosphere below to fry the grid and unshielded electronics in all states except Alaska and Hawaii. Conceivably, and unpredictably, North Korea or Iran might dare to launch such a missile.

A more likely catastrophe, Mr Rawles believes, would be a pandemic virulent enough to cause the breakdown of the national sewerage system as well as the grid. Mr Savage, for his part, worries most about a “slow slide into socialism” akin to “death by a thousand cuts, right, you just keep whittling away at liberty” by, for example, restricting gun sales. Some of his firm’s clients fear that bankers may deliberately collapse the financial system in order to introduce a single global currency.

All in all, the frontier spirit of America’s Old West is still alive and well.

christiangustafson said...

Well, he won't be missed.

christiangustafson said...

TSE, most of my family came to the America in the 1880s, from the Prague area, in what was Bohemia in the Austro-Hungarian Empire. The last was my grandfather, who came in the 1920s as a young boy, settling in a neighborhood on the West Side of Chicago called North Lawndale.

It was Czech then, as was much of the city. Think Cermak Road, the Pilsen neighborhood, and places like North Lawndale, which was a fine place to live then, clean, safe, cultured.

In fact, the Chicago had the 3rd most Czechs in a city in the world, after the Prague itself and the Vienna.

But the Czechs are all gone now, aren't they, newcomers chased them out with gangs and crime, and then burned down much of the West Side. Much of the rest is ruined through abuse and neglect.

It breaks my heart to see what has happened to the great city of Chicago, what they have done to it.

So I don't shed tear one for a complete piece of shit like this who gets himself capped by the cops.

Excellent work, CPD!

Anonymous said...

"It breaks my heart to see what has happened to the great city of Chicago, what they have done to it." This nonsense needs to be permanently shut down. The fact that so many people seem tolerant of this behavior, is proof of how far we've fallen. There should not be a single part, of any city where people should have to fear for their lives, just walking down the street. There just doesn't seem to be any political will to do anything, which is why I plan on retiring in rural northern Arizona. Let these limp wristed morons enjoy their pet thugs.