Tuesday Update…
Sorry gang, I had a busy afternoon. Just a video update again, as I’m to tired to write up a new post. Plus, not much has changed, except we are one more day closer to the coming crash.
Red
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Monday Update…
We hit our target area of 1080 in the morning reversed hard off of it. That might be all we’re going to see? If you’re already short, I’d stay that way even if it rallies tomorrow or Wednesday. People are now talking about the Hindenburg Omen, and that it was confirmed on Friday.
We’ll, if I had to guess I’d say we are going to see it happen this coming Friday as panic sets in. We could open up tomorrow with a gap down very easily. Will it happen? I don’t know, but any rally is just a shorting opportunity now that we reached 1080 and technically fulfilled a wave 2 retracement back up.
We are in a period now where the best thing to do is to hold on to your shorts and not try to swing trade in and out of the market, as you might not get another good re-entry spot again. If we bounce any at all, the 1070 level is now going to be resistance, and would be another good shorting spot.
Ok, that’s about it for now. As I said in the video’s below, after we rally up for the wave 2 the rest is a down hill ride. We hit our target area today, so now it’s time to look out below…
Red
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Lookout below, an avalanche is coming!
Yes folks, the much anticipated Wave 3 of 3 of 3, etc… is here now. The next few weeks should see the market fall down to a low of Dow 8300, and it will probably end around the Legatus Pilgrimage meeting. It could bottom in the middle of it, but I’m leaning more toward the end of it… maybe even the end of September.
After the bottom is in (not the final bottom of course), a major wave 2 back up should happen and continue until the end of the year I believe. Why so long? Because I think the Illuminati members coming out of the Legatus meeting will implement another Stimulus package to rally the market.
This will be done as a political move by the Obama gangsters to try and win the democratic majority with the November elections coming up for the house and senate. Anna and I were discussing this and it makes a lot of sense from a political stand point. There is also the possibility that Obama will extend the Bush tax credits that are due to expire at the end of the year.
This should rally the market higher, as many long term investors won’t have too sell this year to keep from being taxed at a higher rate on long term capital gains. The republicans will be happy too, which would help Obama too.
Moving on the technical side of things…
The TA’s say that we are rising back up the 60 minute chart, and should continue to rise until Tuesday or Wednesday. At that point, I expect us to fall into a minute wave 3, of major wave 3 of primary wave 3… which is the bulls’ worst nightmare!
So gang, I’ve said just about everything I can think of in the video’s above. I think we will rally a small amount into Wednesday and then fall off cliff after that. Maybe 1080 area, or a little higher… but regardless of how high it makes it, Thursday and Friday should be heavy selling. Just look for the 60, 30, and 15 charts to peak out around late Tuesday or early Wednesday would be my guess.
Then hop on the inter-tube (or ski’s for the brave) and ride it down the snow slope from hell…
Red
P.S. I’ve been waiting for this wave 3 ever since I started this blog. It’s finally here and I don’t know how to act… it’s that ironic?
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