Pre Turkey Day and Fri after TEND to be more bullish, so I am not expecting any serious decline to begin here, and the volume is pathetic....whole rally from March has been haunted by diminishing volume, ABOVE we have 50 FIB of SPX at 1120 ish, the TRIPLE TOPS in the Transports, and now a VIX at 20.45 last I peeked close to where other market declines began.
But sellers have not rested control away from bulls, so ignore fundamentals for any argument.
This country and financial system are in serious jeopardy. And yes down the road our RESERVE currency and world power at stake too.
AS we pour money down the drain into idiotic subsidies and stimulus the housing market nor the economy is responding, and you neighbor may be one of those told not to pay his mortgage or has had it reduced, while you pay all of yours....maybe having 2nd thoughts
Retailers after the Holiday will see where they stand, many making last thereof.
NO help for small business, no help for man ON the street, all efforts sent to Wall Street care of the cronies and lobbyists....I bet their XMAS will be super.
DO NOT TRUST MSM to give you ANY facts, or truths, we have NO EVIDENCE (and todays revision of GDP to 2.8%) of any V shaped recovery as in evidence from the stock market. Maybe companies bottom line is leaner from CUTS (HEAD COUNT REDUCTION) but one companies head count cut is anothers customer...sooner or later its beggar they neighbor.
Money flows into THINGS like copper, wheat, gold, stocks.....when it should be going INTO JOB CREATION and NOT road repair....and what's $200B divided into $14 T economy?
IMHO we are in PHASE ONE of DEFLATION and DEPRESSION not PHASE ONE of primary uptrend...now some may like to call it that a primary uptrend, I think such is perverse description of what I witness...on the street
D
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