Dow Jones Weekly -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Cycle Brackets, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

We were wrong again – after tanking last week, Yellen does some cryptic bloviating and magically the market recovers in 3 days.  Magic – .  The folks at zerohedge reposted USA Today’s front page – “Fed to the Rescue” – largely about Yellen and the rest of the central banks jamming markets higher.  MSM is finally reporting this endless corruption of markets by central banks.

The global economy is running on the fumes of its fumes. Economic data reports are a complete farce – a mix conflicting messages.  Share buyback season starts in less than three weeks – with Q4 US GDP estimated to come in at less than 2%, this should get entertaining.

The last roll over, thanks to Yellen / Fed buying, took 36 trading days to complete – about two months.  Commodities continue to deflate – markets continue climbing along with the USD. Nice job Yellen – SNAFU.

Click on chart to enlarge Dow Jones Weekly Gets Yellenized And Rockets 3.1% – More All Time Highs Again Next Week

Dow Jones Weekly -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Cycle Brackets, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

As can be seen, the trend didn’t budge – we still remain up from a weekly perspective.  Central banks may ratchet things higher going into the end of the year.  Economic news continues to get worse.  Our good friends at zerohedge posted a U-Michigan consumer sentiment brief that was the highest since December 2006.  Two things – euphoric news occurs near major top.  The other is that this report is just another example of coordinated lying that gets pumped by the MSM to fool the masses into believing that after six years we are still recovering.  Two elements keep these markets up – Yellen and other central banks endlessly buying and corporate share buybacks that are incurring massive debt/shrinking cash to purchase their shares at all time highs.  And this is why we say, mind the bounce next week.

Click on chart to enlarge Dow Jones Weekly Falls Sharply – Wipes Out Five Weeks Of Gains – May See Central Bank Backed Bounce Early Next Week

Dow Jones Weekly -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Cycle Brackets, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

Prices are pulling away from the bollinger.  Volume is fading nicely.  The USD just made an eight year high.  Commodities are deflating.  Magically, today’s US jobs reports showed promise with adjustments up in previous quarters.  This is just the type of euphoric news that we need to see a collapse.  We expect to see a pullback next week (said so many times it’s getting sickening).  The divergences are endless and when we do roll, the move should wipe out the gains of the last month in a few days.  Cash VIX is 11.84 – December VIX at 13.55 expires next.  Central banks continue to run the markets – perhaps to give them a reason to get up in the morning.

Click on chart to enlarge Dow Jones Weekly Up For Seventh Straight Week As Deflation Ramps Up

Dow Jones Weekly -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Cycle Brackets, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

It’s interesting to watch central banks torch the economic future and continue to blow billions to bid this market up – central banks along with pensions and other large financial institutions that need markets to stay up in order to not be insolvent.  Top 25 pensions in the US are underfunded to the tune of $2T.  And if markets tank, this underfunding will rocket even higher.  Six up weeks in a row.  Shrinking global economy.  Rocketing USD, Rising bond prices.  Tanking commodity prices.  And a MSM that spews nothing but euphoria in the face of disaster to convince masses that all is fine.  It is not fine.  A trend reversal is long overdue.  USD upside definitely helps the turn.

Click on chart to enlarge Dow Jones Weekly Closes Flat Because Central Banks Couldn’t Make It Go Any Higher

Dow Jones Weekly -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Cycle Brackets, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

Three of the ten largest economies (Italy, France and Japan) are in recession and markets continue to record highs.  France’s CAC-40 was up 2.67% today.  Isn’t that fantastic?

Yellen and her entourage of international bankers continue to create debt that will likely be defaulted upon to continue expanding their balance sheets.  Some how according to Yellen, this creates stability.  Of course, the book value of the Fed’s balance is known – near $5T.  Wonder what the market value is?  Bet it’s a lot less, or will be very soon.

Volume is fading – again.  MACD is fading – again.  We are at channel resistance – again.  This is the fifth week up – arguably the sixth week.  Based on the size of move, we should see a pullback next week.  Will it happen?  Who knows?  Call Yellen.

Click on chart to enlarge Dow Jones Weekly Up Another 1% As Central Banks Continue To Ride Markets Higher
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