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

Is this high in crude going to produce a pullback? Or will it just explode through the critical previous highs 'resistance' area, and get to that $100 that 'they' keep talking about? I suspect some kind of pullback.

And there's the new HOD for crude. I expected a pullback, I just didn't think it would only be a tad over 60 cents...

I vote for today as the crappiest trading day in the ES I can recall in recent memory.

So far, that seems to be the plan.

Originally posted by jimkane

So, was that the dip, and up to new highs it goes???

Euro exploding, DX collapsing (intraday), gold ramping, silver, well, it's being silver, crude new HOD...

Gold just went parabolic intraday.

Careful here in the ES for a last second dump before the close, or right after. Just in case.

Silver just took out the high for the entire move up...

Gold is just exploding. I think it's gone. I'll never get my chance to buy some at $1,000 like I hoped. Just hit 1417...

You know how they say 'It's all over but the crying?' I think the crying is going to be starting pretty soon...

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.