Friday, February 24, 2017

The worst possible situation

Only when you have passed over into chiliastic analysis, can you see the worst outcome that is possible in this world.

In my opinion, this would be complete chaos in Fed monetary policy, including possibly a series of rate hikes and cuts in mad succession, a collapse in confidence and mad panic for hard money that would complete the very-long-term "Jaws of Death" pattern before Thanksgiving.

SPX collapse

Wednesday, February 22, 2017

A large gap down is not out of the question

We have a good setup for an island top here, gapping down overnight on the S&P as low as 2340, bouncing, and continuing south.



UVXY knows something is up.

SPX 2Y

Wednesday, February 15, 2017

UVXY knows ... we have got to test the Election lows

VIX and the volatility ETFs are screaming halt!  Will the market follow?



Yes, it will.  And the Fed will cut rates in June.

SPX megaphone with Trump throwover

Thursday, February 9, 2017

Blog magic is real

I mentioned Larry Niven and Jerry Pournelle's classic cosmic disaster novel Lucifer's Hammer the other day, and what should greet me at my local Value Village last night, but a first edition of the same, with a DJ already protected in vinyl!

Niven and Pournelle, Lucifer's Hammer, 1st ed, Playboy Press, 1977

Abebooks has this at $70 to $100, probably toward the low-end as mine has a couple of chips out of the jacket.  But I paid $2.99, so I am pleased with the exchange.  Bicycle's copy is nicer, but I paid less than he did.

Wedge is looking good up here in the ether -- here's my local count.  Janet speaks a couple of times during RTH next week, could be a good time if she decides to shank the Donald.

SPX 60D

And the larger, doom count for 2017:

SPX 2Y