I'll start with the Cable. The correction may be done here but 3Ds into 1.6010 is my the most preferable scenario.



If this area doesn't hold, 1.6040 with EXP ABCD is next.

Very basic stuff. Nice job finding the area this AM, Marcin.

Thanks, Jim.

My key area now sits at 40-56, and for reference, the 1.272 ext ret is at 69. Understand, I have no reason whatsoever to believe we are not now on the way to 3400 or wherever up there. Like I said, this market is likely to rise until Armageddon. The next 'bear market' will be, essentially, the end of the world. Unless some highly leveraged institute goes fully insolvent in the sense that it can no longer hide it, or Ebola really explodes here, or something else, before then (but, then, that simply starts the end of the world there, so I haven't said anything new, except the end starts before say 3400). That's my highest odds viewpoint.

Everyone should read this. It's economic, but still, every citizen should know this kind of basic stuff.

http://www.zerohedge.com/news/2014-11-06/magic-cpi-watch-how-economists-transform-400-price-increase-71-decline

Futures open back up with a pop to new all-time highs. How long is this ride going to last?

It's hard to know what this may do in the dead aftermarket session on any given day, but I would suspect this plans to head right to the next area in short order.

There's another new all-time high. How's that song Have a Cigar by Pink Floyd go (this one will appeal to one reader, he's a huge PF fan)?

"An did we tell ya the name of the game, boy, we call it riding the gravy train."

Yawn. Another new all-time high.

I see no issue whatsoever tomorrow with the 'usually upward biased Friday' hitting the area I mentioned. They may bring it in in the AM for better prices, but this might also be one of those acceleration and strong upward bias days, too. It's really set up for that.

What's really funny is how something can be so obvious, and still 'work' so many times. I give the odds of this rising tomorrow about 90%. And yet it still will 'work' many times when set up like this, despite it being so obvious.

We are so brainwashed in this country, we are conditioned to believe we are doing great, better than everyone else, so lucky to be AmeriKan (and most agree, following along with O'Bummer's quips about the USA's exceptionalism). But here's some facts:

"The Upper Middle Class of America Owns a Smaller Percentage of Wealth Than the Corresponding Groups in All Major Nations Except Russia and Indonesia."

and

"America’s bottom half compares even less favorably to the world: dead last, with just 1.3 percent of national wealth. Only Russia comes close to that dismal share, at 1.9 percent. The bottom half in all other nations own 2.6 to 10.2 percent of the wealth."

That doesn't even sound remotely exceptional, or even remotely 'good'.

How about this:

"Just 47 Wealthy Americans Own More Than Half of the US Population. Oxfam reported that just 85 people own as much as half the world."

And to finish, we hear all the time about how brutal it is in Greece. The stories are chilling. Youth unemployment, businesses closing left and right, endless stories about former middle class families (entire families) living in cars, and so on. So, with that context, how about this one:

"Oh, and if you’re wondering how the American middle class ranks in the latest data, it improved two spots to #25. Just behind Greece."

But still all us AmeriKans keep thinking we have it so good, relatively, and we keep the system going for the elite. Nice job, AmeriKans. Your exceptional all right, exceptional suckers, exceptional sheep.

Source: http://www.zerohedge.com/news/2014-11-07/american-middle-class-wealth-worse-every-nation-russia-indonesia