Seems the market had a bit of an up day. Yes, even a dead cat will bounce when dropped from a high altitude. But we're still going to go lower. Considering the state of politics today I don't see the possibility for much more. But wait, Uncle Ben gave us "Operation Twist"!! Oh, perhaps it should have been named "Operation Twist.......in the Wind"! Hello, Uncle Ben. Clue. It doesn't matter how low mortgage rates are if you don't have a job! Hellooooooooo!
G7, G20, Congress. They can't seem to get it together. Frankly, I don't think really give a damn about anyone but themselves. Greece, Italy, Spain, Portugal, Ireland. Set up just like dominoes ready to fall and looking for a push. The Euro: Germany, France and the rest unable to agree on a path out of the woods. They should consider renaming themselves from the European Union to the European Free For All.
And Congress. What a bunch of assholes we have there. These idiots just don't get it. Our country is in a crisis and all they can do is fight and jockey for position. They have no shame. With all that has happened in the past few years they have only gotten worse. In the latest debacle, it seems jockeying for political position is more important that getting aid to storm victims here in the good old U-S of A. OMG! Really? REALLY?? They haven't learned a thing from the last several disasters they helped to create? We just got thru the debt ceiling crisis where they amost threw the economy completely into the toilet, and now they can't agree on a bill to keep the government running and get aid to hurricane victims. Nice huh? And we wonder why things are so bad in this country. It doesn't matter about their party affiliation. They all reek from the smell of shameless self promotion. I say it's high time we sent a message. I say it's time to fire them all. We need to send politicians the message that we won't tolerate this behavior anymore. They are there to do a job, not for personal gain. Time to start campaign CLEAN SWEEP!
The charts.
Dead cat bounce? Probably. Consolidation? Perhaps. The volume today was below the 50 day average. Not a good sign that buyers are eager to play. A rally from here? No way Jose~ The weekend is here and we have two days for the politicians to screw things up some more. Add that to the charts and we still have room for more downside. Gold, Silver, Copper, Oil all taking a beating as everone runs for the dollar out of fear. And we need more fear, more blood in the streets, panic and more downside to create a high volume capitulation where there are no more sellers to be found. Then, and only then can we begin to build an upside.
No change in the trends. No change in predicted downside targets. Hey, look at that.......a man is twisting in the wind~ Will wonders never cease.
CURRENT MARKET TRENDS
Long Term (Weekly Chart) - Down
Medium Term (3 day chart) - Down
Short Term (Daily Chart) – Down
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