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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:
- 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.
- Failure of the 21 SMA suggests there is no true diatonic support left until we were to test the 2214 levels on S&P.
- 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.
- 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.
- 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!
“Whereas it is the duty of all Nations to acknowledge the providence of Almighty God, to obey his will, to be grateful for his benefits, and humbly to implore his protection and favor—and whereas both Houses of Congress have by their joint Committee requested me “to recommend to the People of the United States a day of public thanksgiving and prayer to be observed by acknowledging with grateful hearts the many signal favors of Almighty God especially by affording them an opportunity peaceably to establish a form of government for their safety and happiness.”
“Now therefore I do recommend and assign Thursday the 26th day of November next to be devoted by the People of these States to the service of that great and glorious Being, who is the beneficent Author of all the good that was, that is, or that will be—That we may then all unite in rendering unto him our sincere and humble thanks—for his kind care and protection of the People of this Country previous to their becoming a Nation—for the signal and manifold mercies, and the favorable interpositions of his Providence which we experienced in the course and conclusion of the late war—for the great degree of tranquillity, union, and plenty, which we have since enjoyed—for the peaceable and rational manner, in which we have been enabled to establish constitutions of government for our safety and happiness, and particularly the national One now lately instituted—for the civil and religious liberty with which we are blessed; and the means we have of acquiring and diffusing useful knowledge; and in general for all the great and various favors which he hath been pleased to confer upon us.”
“and also that we may then unite in most humbly offering our prayers and supplications to the great Lord and Ruler of Nations and beseech him to pardon our national and other transgressions—to enable us all, whether in public or private stations, to perform our several and relative duties properly and punctually—to render our national government a blessing to all the people, by constantly being a Government of wise, just, and constitutional laws, discreetly and faithfully executed and obeyed—to protect and guide all Sovereigns and Nations (especially such as have shewn kindness unto us) and to bless them with good government, peace, and concord—To promote the knowledge and practice of true religion and virtue, and the encrease of science among them and us—and generally to grant unto all Mankind such a degree of temporal prosperity as he alone knows to be best.”
Given under my hand at the City of New-York the third day of October in the year of our Lord 1789.
There is an entire generation of traders and millineal hedge fund managers whom have never seen a bear market. Much less a real interest rate environment. The FED has been broadcasting all year that they are unwinding their balance sheet, and would increase the runoff to 85 billion per month. Look at the October candle here. Any questions? Those who cannot recall the past – or even recognize the past in the first place…will be this years fresh road kill:
- LTCM Fiasco 1997
- DOT CON Bubble 2000-2002
- Goldman Sachs Commodity Bubble 2005
- Great Financial Mortgage Scam Bubble 2007-2009
- Central Banks Funny Money Bubble…Stay Tuned
For those of you who don’t understand candle stick analysis maybe this hilarious cartoon can simplify the current situation for you.