If anyone is bored you can listen to Stew Webb on Project Camelot today at 12PM. He talks about the $ crashing along with the stock market by the end of the month due to his sources. You can take this for what it’s worth….
Keep in mind Big Ben will be speaking this Thursday at 10AM EST. If he says nothing about QE3 then this market is going to dump. Todays market action was due to people expecting him to say something on THursday…
Hey BH… I don’t know whether or not the gangsters will be arrested or stopped… just nothing happening. But I do believe they will do QE3 at some point. The “when” is unknown but I suspect it will be at sub 1,000 on the SPX.
Maybe that happens in the next month or so, and then we rally up until October when I see the start of the biggest crash ever to start. The gangster have too do QE3 I’m afraid as they are at the end the rope and must jump. They know it will kill the economy but it has too be done.
Hey Red…..If the Fed is allowed to do QE3 it would imply that the good guys and all the stuff we have been hearing is not really working in stopping them. If everything i’m hearing is true and all of the changes that are accruing behind the scenes are for real then the FED should not allowed to do anymore easing..It seems that leaks are accruing now that QE3 on zerohedge.com I guess we will know soon enough this month..
I’m looking for a “B” down to start tomorrow or Friday WB, and then a “C” up to the FP on the SPY by next Friday. Remember, most option expiration weeks are bullish and they commonly put in the low on the Thursday or Friday prior to opx week.
That means tomorrow or Friday we should see the low for the “B” wave down and then we should rally up to the FP by opx next Friday. Since Bernanke speaks the following week on June 20th for the FOMC meeting, I’d wait until then to get serious on shorting.
Whatever he says or doesn’t say the market will have already priced it in before the meeting. Therefore we should peak on the 20th or the 21st and then rollover again. Due note that we could get another FP before then that would line up with my thoughts that we could go up to around that downward sloping trendline (about 1360-1370) as I cover in the newest video I posted.
You know this whole thing was spelled out pretty well for us. We have the FP down to 1265 and now we have the SPY to 135. Pretty basic. I am going to short the crap out of this soon, at the FP point. good luck to all and me.
If anyone is bored you can listen to Stew Webb on Project Camelot today at 12PM. He talks about the $ crashing along with the stock market by the end of the month due to his sources. You can take this for what it’s worth….
http://www.livestream.com/projectcamelotlive/video?clipId=pla_d9ef637f-d42a-4501-b007-3df92acc57e7&utm_source=lslibrary&utm_medium=ui-thumb
Probably so, but I think it will be short lived selling… which should make our “B” wave down.
Keep in mind Big Ben will be speaking this Thursday at 10AM EST. If he says nothing about QE3 then this market is going to dump. Todays market action was due to people expecting him to say something on THursday…
Hey BH… I don’t know whether or not the gangsters will be arrested or stopped… just nothing happening. But I do believe they will do QE3 at some point. The “when” is unknown but I suspect it will be at sub 1,000 on the SPX.
Maybe that happens in the next month or so, and then we rally up until October when I see the start of the biggest crash ever to start. The gangster have too do QE3 I’m afraid as they are at the end the rope and must jump. They know it will kill the economy but it has too be done.
Hey Red…..If the Fed is allowed to do QE3 it would imply that the good guys and all the stuff we have been hearing is not really working in stopping them. If everything i’m hearing is true and all of the changes that are accruing behind the scenes are for real then the FED should not allowed to do anymore easing..It seems that leaks are accruing now that QE3 on zerohedge.com I guess we will know soon enough this month..
I’m looking for a “B” down to start tomorrow or Friday WB, and then a “C” up to the FP on the SPY by next Friday. Remember, most option expiration weeks are bullish and they commonly put in the low on the Thursday or Friday prior to opx week.
That means tomorrow or Friday we should see the low for the “B” wave down and then we should rally up to the FP by opx next Friday. Since Bernanke speaks the following week on June 20th for the FOMC meeting, I’d wait until then to get serious on shorting.
Whatever he says or doesn’t say the market will have already priced it in before the meeting. Therefore we should peak on the 20th or the 21st and then rollover again. Due note that we could get another FP before then that would line up with my thoughts that we could go up to around that downward sloping trendline (about 1360-1370) as I cover in the newest video I posted.
You know this whole thing was spelled out pretty well for us. We have the FP down to 1265 and now we have the SPY to 135. Pretty basic. I am going to short the crap out of this soon, at the FP point. good luck to all and me.
a B wave down would be perfect.
making today a center average of a double bottom around 6th.
checking in.
I guess the venus transit thing is big juju.
or the Monday full moon.
of course, after an entire month of May down, today was inevitable at some point.
SPX Analysis after close:
http://niftychartsandpatterns.blogspot.in/2012/06/s-500-analysis-after-closing-bell_07.html