The all important MONTHLY chart on SPOOS.  And what an unfortunate 3 months it has been for the BTFD crowd…I have some news for you Mr. President . Because you have claimed personal credit for every single new all time high – your are going to own this all the way back to the 2009 lows. To wit:

  1. The purple squiggly line is a 21 period SMA. It has always signaled transitions from Bull to Bear markets and from Bear to Bull markets. The current level on this moving average is 2644.33 – A close below this level on a MONTHLY basis will be disastrous. It would portend a very evil January followed by a violent February. For the Bullwinkles that is.
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  3. Failure of the 21 SMA suggests there is no true diatonic support left until we were to test the 2214 levels on S&P.
  4. The last time we had an actual close below the 21 SMA was the double bottom that formed in January & February of 2016 – right at the S&P 1800 level. 800+ SPOOS points ago.
  5. November of 2009 was the first time we crossed the 21 SMA, coming out of the GFC. Ten years and some 1600 central bank phony money induced points ago…And this next time the Fed ain’t coming. They still have another 4.1 trillion notional to dump.
  6. The Great Financial Crisis low in March of 2009 – @ 666.79. Ominous…

I AM KingCAMBO…smoke em’ if ya got em’ and that’s how I roll on year end 2018!