7 hours ago, Jimbo said:A BAD WITHDRAWAL
Mr Market is having a bad withdrawal.
Dealer Jay has cut him off.
But only temporarily….to teach him a lesson.
The simple fact is the Fed has to print and inflate to sustain the system.
If it does not then it’s hard default.
That’s why it chooses inflation…..soft default….every time.
Yeah, but.
Here’s the thing.
The Fed is legally mandated by Congress to maintain price stability. So unless they redefine price “stability” from 2% inflation to 6% or 7%, they have a problem. They can’t print their way out of this.
Now We Reap the Whirlwind of the Fed’s Malfeasance
So here we are at 5:30 AM in New York, and the market has slunk back toward the low of its 4 day trading range after popping on AAPL’s blockbuster earnings call, in the afterbirth yesterday.
Traders have squandered a bullish setup which was reflected in higher lows in both prices and the hourly oscillators. Now they’re close to breaking the triangle pattern to the downside, which should lead to explosive diarrhea, if they do.
The Germans haven’t bombed Pearl Harbor yet, but I think it’s over.
Hitting 4292 would start to break the triangle. Breaking 4273 would open the floodgates. If either level holds, the shorts will again rush to cover. Then another lower high, and another run of turdbombs and brown pants syndrome on Wall Street and at the Eccles Building.
Our Chart Pick List Was Short Up the Wazoo, Woohoo! Now What?
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