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.

And here's the 'one more down'?

This is a good summary article. The only major complaint I have is that although he does grasp the 'middle class inflation' issue, he vastly, vastly underestimates what the actual numbers are. Few grasp this simple concept. Go to verifythecpi.com for one simple attempt at discovering what is going on. The 'gold standard' many accept is shadowstats ( http://www.shadowstats.com/alternate_data/inflation-charts ), but although they move in the right direction, I think they still vastly underestimate the problems. Look at the 1980-based alternate model to get some idea. I think it is underestimated by 1/2, but it's a start.

http://www.zerohedge.com/news/2014-11-04/paul-singer-slams-fake-world-fake-growth-fake-money-fake-jobs-fake-stability-fake-in

I don't suspect there are any 'economists' in here, but plug in 15% or 20% inflation in the GDP calculations, and tell me what that yields. Yeah, holy cow.

If one feels like reading.

http://www.zerohedge.com/news/2014-11-04/dismal-earnings-outlook-chart-even-bob-pisani-can-understand

Okay, so after the down, it's now ready to 'break out' to the upside, and if so, I will rank my read of all this amongst my top handful of best reads. I don't really care one way or the other, and it would be best if I just waited, and if it did what I expected, then rank it, for educational purposes. It's just so scripted, though, I wanted to mention it ahead of time 'in case'.

Wow, snapped down hard off the upper area. This is the wildest coil I can recall in out don't know how long.

Yawn. It's time...

And 'There it is!'

The Euro may need some correction here.

Good reaction so far.
1.2525 seems a reasonable 'target' level.

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