This coil will get unwound after Tuesday's meeting. The question is which way?

Oh, this is sweet. I love this. I really didn't expect this at all. This is why my plan/methodology is to stay with things until they take me out.

And here is the Schiff set pointing to this area:

This really is a big-time key area here, for sure. And with a trend to the close signal with the breakdown of that 78.75, too. This should be informative in here.

It is bouncing up strongly from both short term and longer term spots:

Initial, and obligatory, reaction is a snap up. Let's see if they can gun it up to the close, and close it positive. Or will it roll over for a weak close? Very interesting to see how they game it in the last half-hour before the big day.

BTW, the news that is coming out is just horrendous. The fraud, the risk exposures, and so on, they are not only insanely bad in my opinion, they are just 110% 'risk off' indicators. But, they will sweep it all under the rug and keep the game going, no matter what.

Unfortunately, this is going to lead to the total collapse scenario, new issues of currencies, likely hyperinflation, and so on, I think. But, they are so far on this course they know they can't stop, so they will play it out until it implodes. That may be soon, or perhaps a year or two off, but perhaps tomorrow.

Charts.

Good Trading,

Al Kamego

Originally posted by jimkane

... Let's see if they can gun it up to the close, and close it positive...

Looks like they might be shooting for that

Well, they did get it back to +, but can they hold it? And what a silly thing for them to care about, like it really means anything...

And here comes the positive close. Right off the areas shown so well in jarek's charts. These guys never quit, do they?

Okay, INDU, S&P, Nas 100, Trannies, all finish positive on the day, and the futures are still rising. So, everything is as it should be, and the areas jarek showed reversed this on a dime. Essentially all of the last leg down has now been made up already. Will this key .382/.447 off the high (which, notice, was one tick shy of the high for the entire move...) hold and send it down? Hah! I think the odds of that are about the same as the odds of me flapping my arms and flying to the moon.

And the bulls win once again. They will win until the total collapse of the known financial system, in my opinion. Look at commodities. How huge increases in food, pump gas, building materials, etc. will help this recovery I just can't fathom. I think crude will take out the $147 high soon. I use the term 'soon' here in a relative way. Go back to the trend into $147, put that slope on it from here, and estimate the time. I think it will happen faster, but my conservative estimate is about that. But, this time $147 won't slow it down, in my opinion. Bern-quacke is getting exactly what he wants. Heads we lose, tails we die...