The Pound may need one more move up to 1.5170-80 before a larger move down.


After that a further move up cannot be excluded to 1.5270 - 1.53.

Inverted H&S on the 1-min/5-min that's playing out. Now we see if 'they' plan to do anything here, or just more rolling around.

So, freighter rates for oil tankers are surging. Why? There is so much demand for tankers, in good part to store all the excess oil! All the tankers are full, many floating outside the gulf. There are few left because they are all sitting full! And storage facilities are mostly all full! Last I read elsewhere they are producing well over 10 million excess barrels a day right now. That's like 4 billion extra barrels a year needing storage. Crazy, crazy times. And as this worldwide depression starts to accelerate the demand should drop significantly. The only hope for demand, and it's sick to think about, is when WWIII starts, there will be a big surge in demand, as war is very energy intensive. Just plain nuts.

http://www.zerohedge.com/news/2015-12-08/overflowing-global-oil-storage-leads-soaring-supertanker-rates

Okay, so let me see if I understand this correctly. Hike now and everything implodes. Or, don't hike, and the pensions funds and money markets implode, and then... everything implodes. Okay, got it.

http://www.zerohedge.com/news/2015-12-08/jeff-gundlachs-most-bearish-presentation-yet-complete-slide-pack

Looks like the Pound has switched from .786 to .618.

spy – still in a contracting triangle, and all the range bound activity is causing the fibs to line up in both directions.

lows have occurred where:
181.46 – 211.66 = .230 at 204.71
202.18 – 211.00 = .618 at 205.55
204.75 – 209.97 = .786 at 205.87

at the high this morning, the intraday high is in a zone where:
212.08 – 181.46 = .886 at 208.59
211.66 – 202.18 = .685 at 208.67
211.00 – 204.75 = .618 at 208.61
209.97 – 205.78 = .685 at 208.65

I don't have to say anything about today so far. About 30 points straight up in a smooth trend, then down about 40 points in a smooth trend. Beyond heaven for intraday trend traders using a style like mine, in my opinion.

One tick from the big swing-low at 40.00. Watch the games. It should just flush it out and crater, but watch...

No, wait, it got it... Can the selling continue, or will the maniacs now start buying?

Die, pig, die for totally real.