(to watch on youtube: http://www.youtube.com/watch?v=JDoJ71M7qaI)
I'm looking for one more down day and then I expect the bullish trend will resume.
This May 6th is the one year anniversary of the flash crash from last year, which makes the odds of it repeating slim... but!
(to watch on youtube: http://www.youtube.com/watch?v=0fzuK_ZRWjQ )
There are many things going on that "could" lead to another big sell off coming. There is the Simpson's video where the clock with one hand on the "eleven" and the other hand between the 5 and 6... which could mean "5 minutes until 6 o'clock", or 5-6... as in May the 6th. We have yet to figure this one out, but the possibility of this episode meaning something, and telling us sheep of the up coming disaster is very strong. The question is... "how do we interpret the video"?
The next thing of major concern is the Legatus meeting over the weekend. Reinhardt is the person who discovered that the gangsters would meet through this fake Catholic organization and make changes that would determine where the economy (and the stock market) would head to next. He correctly predict the stock market crash of 2008 based on when these meeting were held. Basically, the gangsters meet and funnel all their stolen money (from us sheep) through secret bank accounts in the Vatican (the root of all evil on this planet), and then once the checks have cleared they debase the stock market.
Not every Legatus Meeting is a turning point!
Well, the last few meeting haven't produced any real change in the stock market, but I personally feel that we are now long over due for a surprise crash. Everyone is now bullish, expecting the market to rise to 1430-1440 area for the completion of the inverted head and shoulders pattern. What if we only go up to the FP level on the SPY of 138.86 (about 1388 spx), and then roll over hard... or crash? All the dip buyers would be expecting the market to go up to the 1400+ level and would continue to buy from the gangsters as they unload their long positions into the unsuspecting retail bulls.
I see many people that were bearish now switching to bullish. Ron Walker of the chart pattern trader now has a bullish count on the market, with much higher highs forecasted. I respect him a lot, but I don't agree with his bullish count. I have been bullish for awhile now, as I still think we will hit the FP on SPY before selling off. However, I've been wrong on the expected breaking of the rising wedge as the market continues to defy gravity... day in, and day out. This just goes to show you how hard it is to forecast a rigged market.
My feelings are that we will sell off a little on Monday, in the morning session, and then rally back up as dip sticks (err... dip buyers) come in and push us up toward the FP level on the SPY. Whether we hit it on Monday or later in the week is unknown? I thought we might hit it on Friday as that was 4-29 (by speculating that the volume on the FP of 4,290 shares was a code for the insiders that the date it would be hit was 4-29), but that failed to happen. So, we wait until it is hit to make re-assessments of the market.
Not every FP is a turning point!
I seen the FP of DIA 118.16 get hit, but it wasn't the turning point. Instead, the market just sold off for one day and then continued higher. We could have the same thing happen here with the SPY FP... as it could be hit, but the market might only "pause" and then continue higher. While I don't think that will happen, we can't rule it out either. Also, the odds of another flash crash happening on the same day as last year are extremely rare. That doesn't mean it can't happen, as these gangsters are on their last leg right now, and it truly would surprise the most people if it was repeated.
For now, I'm just looking for the SPY FP to be hit and then see if the market looks ready to tank or not. Monday should be a bullish day, but I still think we will drop in the morning session. I've been wrong on that all of last week, but we've started a new week now, so things could be different. I've noticed that when they want to trap the bears they tend to keep the market up until the last day of the week. Maybe that's because we have weekly options now, and they want to make the puts expire worthless? I don't know the reason, but it happens a lot.
Then they sell it off early then next week not allowing the bears to profit, as very few bears are brave enough to go short over the weekend. That would of course allow them to reset the overbought charts and give them the juice needed to go back up higher later in the week. I've seen this happen several times lately... maybe it will happen this week too?
>>>>>>>>> I'm going to cut this post short, as I need to help Anna with some technical issues.