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Both breaking it to the upside and respecting it should result in a strong and sustained move in the given direction
JA
jarek
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Posts: 3,474
Here is the longer term bearish 4PT we've been talking about lately:
Both breaking it to the upside and respecting it should result in a strong and sustained move in the given direction
Both breaking it to the upside and respecting it should result in a strong and sustained move in the given direction
JI
jimkane
Rep: 3,058
Posts: 33,089
One tick from the high, and looking weak. Cl creeping that TL. They need to goose this up or it could get hit.
JI
jimkane
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Posts: 33,089
And seconds later there it is, the new HOD. Now, can it get that 'bulls#$&' market high?
JI
jimkane
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Posts: 33,089
Okay, we'll have to wait for GLOBEX for the new high for the entire 'bulls#%&' market. It made it within 1.50 points, though.
JA
jarek
Rep: 94
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Looks like the ones who run the show somehow knew they needed to drive for the stop run above last top BEFORE today's data release...
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JA
jarek
Rep: 94
Posts: 3,474
You need to be really fast with this volatility:
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JA
jarek
Rep: 94
Posts: 3,474
Although the bounce off a clear 3D bottom was quite large in size, it never exceeded green ML:
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JI
jimkane
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Posts: 33,089
All I knew was, the odds of a new high for the 'bulls#$&' market were extremely high, in my mind. Will a big pullback come from a stop run new high? Possibly. But look at DBC, crude, the dollar, etc. Risk is 'back on', and comms are really picking up steam as people realize all fiats are 'going to zero'. So, the market could keep moving up. Or it could get crushed off of roofer's areas in here. I'll just see what it does and work around that.
For those that don't think fiat currencies will go to zero, isn't the stat for the USD that it has lost 98% of its buying power since the introduction of the FED? Look at what the FED is doing now. I wonder how that will bode for the buying power of the dollar going forward? Keep in mind, even if the dollar index (the DX) goes up, even way up, that is only how it is doing with regards to a basket of other currencies, with the Euro the biggest component.
Here's the analogy I always use. The basket of currencies is dropped off the Empire State building. They are dropping like a rock. Look at the price of gold in any currency, and a basket of commodities over time. They are losing purchasing power rapidly. Now, within that fall, in their basket, they jockey for position with respect to each other. That's the DX, the Euro value we focus on, the Swissie, etc. While everyone worries about if the dollar is up or down against the Euro, they miss the boat that all of them are dropping like a stone. Soon none of them will have essentially any purchasing power left at all. Don't take your eye off the ball... The real ball.
For those that don't think fiat currencies will go to zero, isn't the stat for the USD that it has lost 98% of its buying power since the introduction of the FED? Look at what the FED is doing now. I wonder how that will bode for the buying power of the dollar going forward? Keep in mind, even if the dollar index (the DX) goes up, even way up, that is only how it is doing with regards to a basket of other currencies, with the Euro the biggest component.
Here's the analogy I always use. The basket of currencies is dropped off the Empire State building. They are dropping like a rock. Look at the price of gold in any currency, and a basket of commodities over time. They are losing purchasing power rapidly. Now, within that fall, in their basket, they jockey for position with respect to each other. That's the DX, the Euro value we focus on, the Swissie, etc. While everyone worries about if the dollar is up or down against the Euro, they miss the boat that all of them are dropping like a stone. Soon none of them will have essentially any purchasing power left at all. Don't take your eye off the ball... The real ball.
JI
jimkane
Rep: 3,058
Posts: 33,089
Last thought to better explain the above. Here's what the conventional thinking is. Crude and the comms start to rise. Pump gas rises and all this puts a big crimp in the economy, and the prices drop due to the dropping demand of a weakening economy. Crude can never get to $200 (or $1,000) because demand will drop tremendously way before then. Now, here's what the conventional thinkers are missing.
Money printing causes a repricing of comms higher, and the excess cash flows into hard assets, giving the double whammy to the rise. Once this trickles down (and pump gas and grocery shelf food prices are the two biggest ways I feel this kills the average American), the economy will slow rapidly. The FED will respond with more money printing, which not only steals whatever tiny little bit is left of your cash savings, it will reprice the comms higher, and feed excess cash into hard assets, with even more vigor, as the debasement is obvious. Demand drops, and prices rocket higher.
This is the acceleration phase of hyperinflation. Wages don't keep up, savings are destroyed, the economy gets a lot worse, and the FED prints more money. The loop is complete, and it feeds on itself. This is what has begun, in my opinion, and nothing in heaven or on earth can stop it. It reminds me of an old TV commercial, which showed a guy on a merry-go-round type thing, and he was saying 'I have to work longer, to make more money, to buy more cocaine, so I can work longer, to make more money, so I can...' faster and faster, until he eventually explodes I would guess.
That's our system right now, and they've gone too far to stop it, change it, or ever admit they were wrong. They are going to blow us all up, and we are all going to stand by and watch. Mark my words. And although this is just one man's opinion and nothing more, you know my track record on reading things...
Have a great weekend.
Money printing causes a repricing of comms higher, and the excess cash flows into hard assets, giving the double whammy to the rise. Once this trickles down (and pump gas and grocery shelf food prices are the two biggest ways I feel this kills the average American), the economy will slow rapidly. The FED will respond with more money printing, which not only steals whatever tiny little bit is left of your cash savings, it will reprice the comms higher, and feed excess cash into hard assets, with even more vigor, as the debasement is obvious. Demand drops, and prices rocket higher.
This is the acceleration phase of hyperinflation. Wages don't keep up, savings are destroyed, the economy gets a lot worse, and the FED prints more money. The loop is complete, and it feeds on itself. This is what has begun, in my opinion, and nothing in heaven or on earth can stop it. It reminds me of an old TV commercial, which showed a guy on a merry-go-round type thing, and he was saying 'I have to work longer, to make more money, to buy more cocaine, so I can work longer, to make more money, so I can...' faster and faster, until he eventually explodes I would guess.
That's our system right now, and they've gone too far to stop it, change it, or ever admit they were wrong. They are going to blow us all up, and we are all going to stand by and watch. Mark my words. And although this is just one man's opinion and nothing more, you know my track record on reading things...
Have a great weekend.