I’ll begin this morning with a remarkable apt and unintentionally amusing graphic illustrating the sea-change which is coming up in U.S. politics in nine short months. Of course, pedo-tubby will try to subvert the entire election process, but it won’t work. This bungled war is going to be the coup de grace.
More germane and relevant at this moment, particularly from one of the top thirteen chartists in Palo Alto, are the retracements that happened overnight. I’ve been doing this a long time, and I’ve looked at literally millions and millions of charts, and I have never – – not ever since I began in the 1980s – – seen more perfect retracements that these.
Here’s is the /ES:
The Dow 30 /YM:
The small caps /RTY:
And the tech-heavy /NQ:
Beautiful, beautiful, beautiful!
But there aren’t just tops. There are impressive basing patterns out there as well. Take, oh, for example, a little market I like to call crude oil.
Equally impressive, and quite naturally almost perfectly correlated, is volatility.
What I’m saying here is you should not be surprised to see within the coming days something so unexpected a shocking happen that both crude oil and volatility go roaring into the blackened, smoky skies of the Middle East.
I’ll close with a chunk of text which, more than anything else, captures the unhinged clinically insanity we are waking up to every single day. Operation Epic Failure is the greatest gift the bears have received since 2008.
