So what happens next week is a tough call. Everything still looks very bearish, but the market still hasn’t broken major support on most all charts. It could break up and squeeze the bears one more time, or fool the bulls and break down through support.
If this were strictly based on the charts, the market would tank next week. But we all know that’s not the only thing to consider. We have too add in the “manipulation factor”… meaning, “What do the Gangsters have planned?” You’ll notice that I never mentioned anything recently about the bogus “End of the World Rapture News” recently. Why? Because it was on “Main Stream Media”… meaning that it was put out by the gangsters to mislead the sheep. Therefore, I knew it wouldn’t happen, and never spoke of it.
Now that we all survived the “Fake Rapture”, we have to move on and live another day.
Looking at all the charts, the dollar, silver, gold, banking, etc… they all are screaming “more downside coming”! I’m not saying that we are going to crash, but I do see the market breaking the major support line this coming week. I think we will take out the previous low of 1318 by this Friday, and then the market can rally the following week.
We should get a bounce on Monday or Tuesday, and then head down into Friday. Since the market sold off nicely this past Friday, you could expect a little more selling into Monday morning. I’m not sure if it will continue throughout the entire day and let it have a relief rally on Tuesday, or if the relief rally starts in the afternoon on Monday and continues into Tuesday, but either way I’ll be looking to get short again early in the week.
The only wildcard is if the market goes against the charts and gaps up out of the resistance zone and clears the 1350 spx level with strength. There is an “inverted head and shoulders” pattern on the 60 minute chart of the spx, but I’m not sure how far it can go… if it even plays out at all? The dollar is looking like it’s putting in a bull flag, which will really hurt the chances of a big rally on the market.
Plus, the banking etf XLF is extremely bearish right now, with no signs of turning back up. Silver is looking bullish on the daily, but not the weekly. It is forming a bear flag, while the daily is just trading sideways while the MACD histogram bars are moving up fast toward the zero level from oversold sold territory. The dollar rally has really hurt commodities, and I think silver will fall down again once the histogram bars reach the zero level and roll back over (if they make it up there at all?).
Common Monthly turn dates are the 25th-27th…
There is also the fact that option expiration week is over and many times the market sells off after it ends, as a new month starts and traders need to hedge their long positions. This is why the 25th-27th of every month seems too be a turning point. If I had to guess, I’d say that we will break the major support area on Monday, backtest it on Tuesday and into Wednesday, and then fall into a wave 3 down into Friday. This seems common from past months. Of course I don’t know how low we go, as I haven’t seen any FP’s lately, but we should easily take out the 1318 spx level at the very minimum.
After this coming week is over, I’ll be looking at the long side. I think they will push it back up in June to fool the bears. How high is unknown of course, but I still think we will make new highs before this market really crashes this October. We still have the 138.86 FP on the SPY that has too be hit, and June or even July looks like the likely month that it will reach it.
However, until I see the breakdown of the major support line, I’ll sit in cash. I don’t want to be caught in a bear squeeze should the gangsters decide to rally up in that 5th wave come Monday morning. That would fool a lot of bears… and probably some bulls too?
Thursday should be interesting, as the market could either sell off hard and put in a new low, or just chop around until Friday when the overbought charts get reset and allow the bull trend to continue.
That’s a hard one to answer, as this Friday is option expiration and the gangsters always pin the market at a level that they pay out the least amount of money to put and call holders. So which are there more of, and at what strike price? I just can’t answer that question unfortunately.
Looking at the open interest on the SPY, the 135 strike price has 156,385 call contracts and 145,187 put contracts, while the 134 strike price has 117,086 call contracts and 136,778 put contracts. This leads me to believe that they will pin the market somewhere between those two levels. Of course that doesn’t mean that we couldn’t sell off hard on Thursday and then rally back up half the way on Friday, as that could be the best choice of action for the gangsters to do.
All the short term charts are overbought (except the 60, which could go a little higher), and should roll over tomorrow. But, that doesn’t mean the market has too sell off. The charts could dip down and reset themselves while the market trades sideways or pulls back slightly. This would be a bull flag and allow another push up late in the day or Friday.
Not all is rosy for the bulls!
The bears still have hope as long as the bulls don’t breakthrough the downward sloping trendline connecting the May 2nd high of 137.12 spy to the May 10th high of 136.11… which should be around the 135.10 spy level tomorrow. That would be the ideal place to get short if they gap the market up tomorrow morning.
But if they gap over it they could force a short squeeze from everyone who placed their stops just above the May 12th high around the same 135 level. Personally, I don’t think it will happen. The short term charts seem too extended right now. Plus, the volume up today was very weak. I think the bears will be well rested and ready to defend that line against a bunch of very tired bulls.
The bottom line…
I’m looking to get short tomorrow on any gap up or flat open (with signs of weakness). I do think that they will reach the downward sloping trendline though. The move up was a solid, but slow grind higher. I expect “pop and drop” tomorrow. Maybe some good jobs data for the “pop” (to get the retail traders long), and then a drop on the technicals (as the smart money can read the charts)… and then a flat to up Friday to close out the week. After that… who knows?
Dominique Strauss-Kahn, the head of the IMF, was arrested last week because he was trying to steal the American people’s Social Security money to finance the Euro, according to Rothschild family sources. The charge of rape against him was almost certainly a case of entrapment by a female agent although I am sure no proof of this will ever be found. The next phase in the battle against the high level financial gangsters is expected to target Goldman Sachs and Morgan Stanley but, the closing of these criminal enterprises will only mark an intermediate phase in the battle against the criminal elements concentrated in the central banks of the West, according to White Dragon Society sources. The end result is certain to be a historical change of the sort not seen for thousands of years, if ever.
End Quote<<<
Looks like the rats are getting caught in the mouse trap. Maybe the cheese was too sweet to pass up? Who’s knows how hot that female agent was? LOL Now let’s see if this rat will “rat” on the other rats?
What’s next? Will we resume the uptrend or break the current support and put in another RED week? That’s a tough one to answer of course, so I’ll just cover both cases and see which on plays out.
On the Bullish Side:
The move up from the 1250 spx area back in March of 2010 could be viewed as a 5 wave pattern move… meaning one more move up is possible. The last 2 weeks could be a wave 4 pattern, that is also making a “continuation triangle” as well. If so, then it could breakout to the upside next week and turn the daily and weekly charts back up. This would then be the move toward the FP on the SPY of 138.86 that still isn’t hit yet. That’s about 1388 SPX.
This triangle that has been forming is similar to the one formed back around mid-February to the first week of March. That triangle pattern finally broke down and put in our 1250 low a week later. However, most triangle patterns are continuation patterns. Since the market has been going up since that low, you would expect this triangle to break up… not down like the previous one. Also, the market rarely does the same move twice.
On the Bearish Side:
The current triangle has almost the same bearish MACD, Histogram Bars, Full and Slow Stochastics, and RSI reading. Plus, the Dollar has broken out of it’s falling wedge and is very bullish right now. Since it goes opposite the market, if it rallies, the market will continue to sell off. While the daily chart on the dollar is getting a little over bought, the weekly is pointing straight up.
There are other factors as well to consider. The recent crash in the commodities market… especially Silver. This was all planned by the Illuminati Gangsters, as JP Morgan was about to get called to deliver physical Silver it doesn’t have. The key level was $50.00 per ounce, and since these thugs are part of the government, they orchestrated the whole thing so the wouldn’t be called out to deliver Silver they didn’t have.
This was all told to Lindsey Williams by the elite gangsters as he reveals it in this interview below. Silver did bounce off the long term support line from the last several years (on the daily chart, and weekly), but I’m not sure if these gangsters need to take it lower or if they were able to exit all their positions now? If they still have a ton of shorts left, then Silver could break that support level and head lower.
In fact, the low on Thursday last week did break the trendline, but they rallied it back up on Friday to close just one it I believe. I suspect that JP Morgan still has a lot more Silver shorts to unload, so I believe it will continue down next week. This means the dollar will likely continue to rally and the stock market will continue to sell off.
There is also the fact that the market did turn down after the recent Legatus meeting concluded on May 2nd a few weeks ago. Everything tells me that this market will go down next week, not up. While I don’t want to bury my head in the sand and not look at both sides, the bearish side out weighs the bullish side right now.
Thinking like a gangster here… I believe they want the market lower this month, so they can announce QE3 in June and rally it back up with more of our taxpayer money (stolen from us, as we don’t have any say so in the matter it seems). The evil thugs want to get in at a better price level then the current one I suspect. Silver could go to the 200 ma around $28 right now, or even to the $26 level from January of this year. Below that there is a gap that needs filled from mid-November of 2010… so yeah, the odds favor more downside in the overall stock market.
Short term, what do I expect?
Monday should be the most bullish day of the week, but could sell of a little in the morning first… then rally back the rest of the day. However, I really expect a flat open and a slow grind up. The 1353 spx area is going to be some tough resistance, as it’s where the downward sloping trendline intersects at in the triangle pattern that the market is currently still in.
They could trade it in a tight range all day and leave everyone guessing on Tuesday? Will it breakout to the upside then, or gap down out of the triangle? If this market wasn’t so manipulated and controlled, the answer would be simple… Gap Down! But you can never underestimate the minds of gangsters! They could turn this charts back up with POMO money and have them all reset by the end of the week. Total Bullsh@t… yeah, I know it! But don’t overlook it just because 90% of the charts are bearish.
While I don’t know how they could continue to sell off silver, let the dollar rally continue, stop the bleeding in the financial’s, and then stage a rally in the stock market at the same time… we’ve all seen stranger things happen! And that is the very reason that I’m in cash right now… because I just don’t know what the gangsters got planned for Monday?
I’ll be looking to get short sometime next week, but I need to see the charts get overbought again first. It could happen on Monday or later in the week… I just don’t know yet? But if all goes a planned (meaning the charts work as expected), we should see a much bigger RED candle on the weekly chart this Friday. Also, keep in mind that we have another FOMC meeting this Wednesday… meaning that we could just get a lot of chop until after “The Bearded One” speaks at 2:00-2:30 pm.
All the short term charts point to one nasty Wave 3 possible for tomorrow. Will the gangsters that control the market allow it to happen… or do they want it to happen? Since the April 30th to May 2nd Legatus meeting ended, the market has been selling off hard. In fact, we actually did crash in the Silver market… what’s next?
Red
_____________________________________________________
Yes, the Elite Gangster Illuminati Cabal members in Washington, DC are planning the reason for America to go to war. What will the event be? I don’t know, but next week has a lot of symbolism and ritual dates in it! So, is this Illuminati Card next? (Staged of course…. just like all the events and wars of the last 150 years or more)
Hard too say what George H. Bush, Henry Kissinger, Dick Cheney, David Rockefeller, George W. Bush, Bill Clinton, Hillary Clinton, Jay Rockefeller, George Soro’s, Warren Buffet, and the rest of the gangsters have in mind. Obama wants it too, as his rating are at an all time low right now. What better time then now to say Osama (real name… Tim Osman) was killed, as “if” they go to war from another False Flag Attack, he will be a hero for saving us sheep!
Below I want to share with you an email I got from a newsletter that I subscribe to… just in case you thought I was nuts. We’ll, even if I am… I’m not alone!
Start Quote>>>>
Joel Bowman, briefly, from Manhattan, New York…
Almost a week has passed since Osama bin Laden, America’s biggest, baddest boogeyman, got his long-coming bullet. The Internet this week was awash with conjecture and conspiracy theory. Was he actually killed and, if so, when? What were the circumstances surrounding his death and burial? Is he alive? The list goes on.
We’ve seen plenty of flag waving and fist pumping from the “Mission Accomplished” crowd. But what, really, has been achieved here? Do you feel safer this week than last, after being told that bin Laden is gone and the US government has the situation is under (increasing) control(s)?
We offer this weekend a slightly different perspective from guest editor, Gary D. Barnett. You may not agree with many (or even any) of his views but, at this point in time, when so much hangs in the balance, it pays to keep an open and informed mind. Please enjoy…
In Death Osama bin Laden Causes Another War
Gary D. Barnett
There has never been such an opportunity for the US government to stage a false flag event in order to start yet another war as there is today. The set up is obvious to libertarians and some sane others, but it eludes most all Americans who are busy dancing in the street after the so-called killing of Osama bin Laden.
Consider the timing of this attack by US Navy SEALs, and then consider recent events. First, the economy is in shambles, unemployment is sky high, price inflation is excessive, and the US military has been bombing civilians in an attempt to assassinate Gaddafi, including murdering innocent little children. Our money is being destroyed before our eyes. The wars are not going well for the ruling elite, and Obama’s ratings are horribly low at the beginning of his presidential crusade. One very important factor is that criticism of these wars has been growing at an accelerated pace. Hatred of the insidious TSA is also becoming much more evident. While civil liberty destruction is still rampant, it is being questioned more often, and with increased intensity.
What better reason then for an event to solidify the masses, and put them on guard for the now coming “terrorist” attacks due to the death of bin Laden. This stone kills a lot of birds it seems, and in my opinion this is no coincidence. In a matter of a few hours, the serfs were in the streets carrying flags, and screaming “God bless the USA.” All the media was abuzz with fervent displays of renewed patriotism.
But what came next should have been expected. We were told that the scourge of the east was dead. One would think that the head of the monster had been forever severed, and that the war would end, but that would not be the case. The politicians and talking heads in the media immediately went on the offensive, and stated that we should be even more vigilant in the war on terror because there will be more attacks due to bin Laden’s death.
Hillary Clinton began her talk by praising the troops for their “courage and commitment.” Yes, the troops had once again become our saviors, literally pulling us from the mouth of the beast. In her next statement she strongly exclaimed “we will continue taking the fight to al Qaeda and their Taliban allies.” She next talked about even more massive interference and imperialistic goals. “All over the world we will press forward, bolstering our partnerships, strengthening our networks, investing in a positive vision of peace and progress, and relentlessly pursuing the murderers who target innocent people.” (Emphasis added) Really! The US killing machine is going after all those who target innocent people, and all over the planet? That is hypocrisy beyond understanding.
These events are shaping future foreign policy, and the window of opportunity in my opinion is short. All that is necessary is to rally the sheep around the flag, and that was accomplished by the charade in Pakistan.
Police in some areas have already increased security measures, and intelligence gathering has intensified. In New York, more police have been sent to patrol subways, airports, and bridges. This is just the beginning. More fear has been instilled in the minds of Americans once again, and conditions are ripe for a false flag event staged by those who would gain power and money with more war. Certainly, Obama has an obvious incentive to be the protector of the country given his current presidential run. But many others stand to gain from such an event as well.
All that is now necessary to prosecute the next war by the US Empire is an attack or threat of an attack. Whether manufactured by our own government or not, that event would serve as the lynchpin of yet more US aggression. Aggression not just against those in far away lands, but aggression here at home aimed at our liberty and our freedom.
Nothing is what it seems, and the risk to us all is great. Much scrutiny should be evident concerning anything coming out of Washington D.C. or the mainstream media. Lies abound, but this set up is obvious, and is staring us square in the face. Believing otherwise is foolish as far as I’m concerned, and this is no time for gullibility or flag waving.
What the triggering event will be is not easy to discern, but whatever it is will be obvious once it occurs. Any event that heightens the terror alert or brings calls for retaliation should be examined carefully. It could be a downed airliner, an attack on a US embassy, a bomb inside our borders, or any number of other things. Regardless of the type of aggression, take heed, and don’t assume anything. The government lies continuously, and any attack is in this government’s, its military, and its corporate partner’s best interests.
I understand that many are afraid, but we should not fear any foreign invader. We should only fear our own government because the threat will come from within. We are in a very precarious situation, but because this new threat is so conspicuous, we should be able to see it coming. We are moving inexorably toward the next false flag, but this time even more could be at stake. Nothing should be taken for granted, and none should be surprised by anything that happens.
The monster of the east is gone, but the beast that is the US government is alive and well, and planning chaos. Our eyes should be open and our minds clear, for what is coming is vile. War is criminal and it is unholy, and our government is planning even more aggression. This bin Laden farce is evidence enough. Those who purposely cause and wage war, and do so to gain money and power, are savage, depraved, and evil. But those who applaud the murdering of others in the name of false defense are the enablers. Without the consent of the people, the government would be forced to stand down. It is time to stand up and stop this insanity!
Naturally the common people don’t want war… Voice or no voice, the people can always be brought to the bidding of the leaders… All you have to do is to tell them they are being attacked and denounce the pacifists for lack of patriotism.
~ Herman Goering
End Quote>>>>
So what’s next you ask?
Are we going to crash the stock market? Yes, but probably not until later this year after the next Legatus meeting in October. For now, we are just having a correction I believe. While the market is looking like it wants to tank right now, as Friday’s close was really ugly, there is still the possibility that we will go up one more time and hit the SPY FP of 138.86 before the correction in May really starts.
If not, then we could continue this down move next week… especially if Wednesday 5-11-11 has another “Staged Event” happen. It is an important number to the Illuminati, just like when they attacked Japan with HAARP (and/or nuclear bombs planted by US Sub’s along the fault line) on 3-11-11. They seem to like odd months I believe, which leaves this Wednesday and the coming 7-11-11 open for something bad too happen.
If the market simply bounces up to form a wave 2 up, then it could easily be over by this Wednesday, and a nasty wave 3 down could start. However, technically we already had a 61.8% wave 2 retracement up on Friday. That means wave 3 down could start on Monday. This all assumes that the FP on SPY won’t be hit until later this year. But, if they plan on hitting it first, then we could go up all of next week to hit it… which would mean that nothing bad would likely happen on 5-11-11 (unless it’s something that doesn’t effect the stock market?).
Of course I guess there is the slim possibility that the market will go up to the FP by Wednesday, and then some event happens and crashes the market? That seems highly unlikely as the FP level is quite far away right now, and it doesn’t seem possible that the market could rally that far in such a short amount of time. But, nothing surprises me in this rigged, controlled and highly manipulated stock market that we all gamble in.
Or maybe it takes all week and then they play this Illuminati Card?
Hmmm, there are so many things that could happen, it’s hard too figure out what the gangsters are planned next. Who would have thought that they would crash the silver market last week? Ben Bernanke goes on TV and says that commodities will correct soon, and “Bam”… silver crashes! Tell me that was planned and manipulated! I’m not sure when they will play this card, but this Friday is the 13th… so beware!
Last week looked a lot like the last week of April 2010… just before the “Flash Crash” week! Could it happen again this week? I think it could, and quite possibly will. You have a “now confirmed” sell off after the end of the Legatus meeting April 30th-May 2nd, you have another important ritual date of 5-11-11, as well as very bearish charts across the board. But the most telling sign is the possible “False Flag” event that could be staged this week… as the wildcard release of the death of Bin Laden is likely a warning that the gangsters in the White House plan to start WW3 soon. That means they have to kill some American’s and blame it on someone else in the middle east to get the clueless sheep to rally behind attacking some innocent country.
Sad but true… if only the American sheep would wake up and see the truth! American is full of great, kind, giving, and compassionate people… but they still believe all the Bullsh*t on the Main Stream Media! Maybe we need “The Great Depression Two” as if people can’t afford their Television bill maybe they will wake up from the brainwashing that it has done to them and finally see the truth. Only then can we all stand together and arrest this gangsters and free American of the enslavement we have been in for years now.
So to put it simply, next week could be a Blood Bath in the Stock Market… especially if we have another False Flag Event! Everything points to more selling next week, even if we don’t have anything bad. All the charts are bearish. While it’s possible that they could turn them back up and resume the march higher to the FP on the SPY of 138.86, it seems unlikely. And while the bearish patterns aren’t confirmed yet, I believe they will be this week.
I’m looking for a move up on Monday and/or Tuesday, but after that I think we will resume the selling. Technically, we really don’t have too rally up any next week as we did have our 61.8% retracement on Friday… so don’t forget that. I’m just unsure if that was “it”, or if they will rally some Monday to shake out some more bears. Remember, we are in the early stages of the selling, and the “fear” really hasn’t come back into the market yet. There should be “dip buyers” come in and try to resume the uptrend. I just think it will fail and roll back down later in the week, and close it will another red bar.
Good Hunting Bears!
Red
P.S. Interesting stuff on when Bin Laden really died…
Max Igan – Radio Skidrow – Bin Laden & Fracking – 05/03/11 – 1/2
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