OK, so I’ve used that headline before. 
This was so predictable, but that doesn’t mean I’m in a good mood. Inflation is raging. Savers are getting killed, and no different from any time in the past 12 years, wild eyed, often criminal, speculators are reaping the rewards of this insane, unfair, immoral monetary policy, with all its perverse incentives.
But I follow the rules in my analysis. The Four Laws of Thermomarketdynamics. And they say that the Fed is still bullish. The Trend is still bullish. All patterns are bullish, and PE ratios should still be infinite by definition.
Meanwhile, here at Capitalstool, we are only concerned with today. And today, the 5 day cycle projection has risen to 4475-95. Uptrending resistance passes through 4475 over the next few hours. Does the market have the juice to get through that? If so, then 4495, no, make it 4500, would be a done deal.
Gag me.
And now for your longer term listening and dining pleasure:
Gold is Facing the Kiss of Death
We’re There, And Here’s Where That Is
Chart Picks – 41 Buy Signals and 28 Sell Signals Give Us 3 Picks
US Economy Just Went Over a Cliff
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