American Prophet

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On March 8th, I published this post for my beloved Slope+ subscribers. The really smart guys who do financial predictions cleverly use a lot of words to ensure that they will be able to claim success in the future. In flowery language, they describe How Things Could Go Up or How Things Could Go Down, and one or the other will happen, and it’s time for the trophy.

Since I’m not that sharp, I actually take a position, and in the aforementioned post, I gave extremely specific values and corresponding dates I thought were forthcoming. I’m not going to share the “meat” of the post, but I will share a scribbling I did of the Russell 2000 (I remind you, this was done nearly two months ago):

0427-rutthen 

Sooooooo……….what’s happened since then? I’ve put an arrow marking the point where the post came out, and I’ve tinted the zone I think (hope!) the index will ultimately tag.

0427-rutnow

As I’m typing this on Sunday afternoon, in the lovely town of Bellevue, Washington, the NQ is green, as is the ES. I’m sure the bulls fully expect that our effete, red-line-laying-down President is going to turn on the New High Engine again with more geopolitical concessions. Or maybe Janet Yellen will shave her armpits on pay-per-view to distract people from her orchestration of even more wealth maldistribution. But I am steadfast. If you look at the chart of the ES below and figure out the world has suffered enough pain for its sins, I am inclined to disagree.

0427-es