Starting it off.

As an aside, the SPY did hit new all-time highs already today.

At the all-time high. Just do it already. Geez.

Okay, there it is. It was inevitable, as far as I was concerned. Glad to just have it done.

Those Fed minutes really did the trick. Brought it right back to an expected area, and gave another opportunity to get in for the next leg. Sweet.

Yes.
And anyone noticed what the Pound did today?
90 pips dwon now from 1.6677 HOD and still falling.

I did see that.

Okay, the ES is now free to collapse.

Here's a quick thought. The one guru I follow, the one who 'flipped' just when I expected he would, he's monster bullish now, looking at much higher levels. The longer-term guy, he's just staying bullish. No one I watch is thinking there is any chance at all this new all-time high was just a stunt, a get it over the old high and that's it. I'm not saying I'm 'bearish' here, only that if the 'real' correction started here, I can't think of a single person who would see it coming.

On the other hand, there is no reason yet for this market to turn down. It takes an event, in my opinion, to start a bubble popping. That event can be any small thing that starts the cascade, and once leverage has to be unwound, the whole thing goes. There is no event right now. It may come out in the news any time now, or it may not. But it hasn't happened yet. Or it may be behind the scenes, as some highly leveraged carry trade goes awry. Point being, there is no reason why the market can't keep on rising. Rising and rising, until some pin pops the bubble. Then swooooooooooooooooooooooooooooooosh, except this swoosh won't be bought in a day or two, as it feeds on itself.

So, as much as I'd love to see all these bullish guru jacka#@es take the pipe, likely they will get to stick their chests out, swollen with pride about how great they are, for awhile yet.

Armstrong says there is a big swoosh coming starting the first week in Sept. The monster weekly/monthly natural set upper // is in here, and it is retesting the downsloping weekly/monthly natural set here. It could set a new high up say 20 points from here to retest the first set. I would really (really, really) like it to top out in there and start a (if not 'the') bear market. So, the window for this all is in the next two, maybe three, weeks or so. We are all so 'pavlovian-ly' trained now it is hard to believe some day this nonsense will, indeed, end, that most, if not just about all, will not see it coming.

One of many techniques they use to train us it to keep making it look like it has started, then they gun it up fast and demoralize us. They do this until we all submit; give up. Even TK over at Slope of Hope is now resigned to posting many long setups. Once the last bear is skinned, then they collapse it. I, for one, will be ready. The difference between me and most others, I think, is that I am willing to look at taking shots at every one of these false starts, except I don't marry the position, so to speak. The second I see it's just another sucker trap game, I line right up with the flow. That's my solution. Flexibility, and nimbleness, that's the key, in my opinion. Just my two cents.

Woo-hoo, the futures are down a whole tick! Yee-haaaaaaaaaaaaaaaaaaaaaaaaaaw!

Not many know that lately I've been assisting my better half with 'landscaping' our front and side yard and doing the garden. She relocated a nearly eight year gardening project (flowers, shrubs, tress, and vegi's) when we moved. What we didn't know was the place we bought has the worst clay soil I have ever seen in my entire life. When we get closer to completion I'll post a picture or two in here. We won't finish entirely before the brutal non-stop rain gets here in the fall, but we'll be pretty far along, enough for some pics. In the meantime, here's what we're working with. No, those aren't rocks, that's the soil.


And by the way, that's not concrete below the wheelbarrow, that's the ground we are working with.