I'll kick it off.

Yep, picked off where it ended that leg pretty much dead on. Very technical action.

Let's see if this 64 is the start of the next leg. Thing is, given the time of day, even if it was/might be, it doesn't matter, because the overnight chop and ensuing games will change the battle plan.

My preference, which of course means not a thing to the market, is that it dumps off that recent high.

I recall awhile back a previous student commented in here that it seems like 'they' are going to pull it off after all. He was referring to the money printing nonsense saving the market, manipulating it back up, the economy, and so on. My thinking was, or was developing to be, that this thing is way more complex than I'd first thought, and they'd play many, many more games before they were done. Fixing anything was completely out of the question. That became obvious when, at every step along the way, they did the worst thing for the little guy and the best thing for the elite.

Anyway, I started to realize that once it was clear the market was going up, and would be going up for awhile, that was, at the most, the top of the first inning, perhaps the bottom of the first. This will play out over the next twenty years. The aftermath will last much longer, I think, but full blown action, that's another twenty years in the making. The whole thing is a lot slower of a process than I thought. Even a full global reset, which may happen almost overnight, will be just one more step in a long process, which will include profoundly large-scale war.

I thought the reset was 'it', but it's only one small step. This 'go to war to continue in power and give the sheep someone to blame, a common enemy only the government can save them from', it's as old as the hills, and is unfolding before our eyes as we speak. I agree with a lot what Armstrong says, and some things I vehemently disagree with. I agree, though, when he says we (we being the U.S., Europe, Japan, etc.) will default. Add to that, also, massive muni bond defaults, and it's going to get real, real soon. I'm not mocking or putting down my old student when I say this, but 'Yeah, they pulled it off. Uh-huh.'

http://armstrongeconomics.com/2014/07/30/why-we-will-go-to-war-with-russia/

Give it to me, baby!!!!! I love this.

I can't go back to bed, this is really something. Got to keep sticking myself with a pin to keep awake. It looks like it is either about to crash hard, or, given that it is obviously at that point, start the bounce right here. We'll see. Yawn. That was an exhausted yawn, not a bored yawn.

Yep, up it goes. Let's see if any sellers come in at some point, or not.

Higher low, or little bearish ABCD? I want to go back to bed, but I just can't...

I think this is a good overview of the situation. No solutions (since there really are none), nothing new, but a good synopsis.

http://www.zerohedge.com/news/2014-08-02/do-over-groupthink-mass-delusion-and-hell-pay