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World Stock Markets Trading Discussion - Lopsided loops

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All Ords 5-day chart




All Ords gained +0.5% with sectors ranging from Miners/Energy +1.2% down to Gold -1.8%.

Over in Asia, China closed, Hong Kong -1.7%, Japan -0.6% and the normally stoic India -2.2%.

Distinctly reddish in UK/Europe: FTSE -1.1%, DAX -0.4%, CAC -1.1%.











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I was on the road back to  FL yesterday. Now ensconced at Base FL. I'll head back north in early November, then across the seas to base Med for the  winter. I'll be spending 3 months in Nice, and am toying with the idea of spending another month outside the 90 day Schengen visa area before I return. That leaves me just two choices. UK, or sunny Croatia.  Hmmm Feb-March? I think that's a no brainer.   


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The 10 year is pushing 3.20 today. I missed the breakout yesterday. I've been preaching that it's coming of course. Just as I've been preaching that the stock market would follow.  The sands of time run from the hourglass slowly in our day to day experience, but they are a  fleeting flash in the context of history. 

The problem today is that this turn will not be cushioned by a trend of political, technological, economic, and social progress.  The trend of technology creating the opportunity for a better life for all has ended, and even gone into reverse. Politically we have headed in a dark direction for the past 47 years, where the individual is glorified above and beyond the needs of society as a whole. Our moral decline has accelerated into a crash over the past 10 years, culminating in the elevation of the caricature of anti-Christ to the position of greatest power.  Unfortunately, when you give absolute power to an evil clown, he's no longer a clown. He becomes a monster who millions will follow to their graves.  

I have little confidence that this  trend, where evil is in the ascendency, will be reversed, especially here in  the US. 


In the 1920s, we were still guided by the words on the Statue of Liberty. 

... her name

Mother of Exiles. From her beacon-hand

Glows world-wide welcome; her mild eyes command

The air-bridged harbor that twin cities frame.


Give me your tired, your poor,

Your huddled masses yearning to breathe free,

The wretched refuse of your teeming shore.

Send these, the homeless, tempest-tost to me,

I lift my lamp beside the golden door!”

I believe in those ideals. My grandparents and great grandfather came here under them.  

No longer do we extend that welcome to the to the wretched refuse, homeless and tempest-tost,  huddled masses yearning to breathe free. My grandparents, and perhaps yours, were among them.  Unless we are native Americans or whose ancestors were brought here as slaves, all of us have descended from those who came under that welcoming ideal.  

Now the US has turned its back on the freedom seekers of the world. The US no longer believes in the right of the oppressed and downtrodden to seek refuge here, to build new lives and contribute to the great melting pot this country has been.

In rejecting this most fundamental of American ideals, the US has become a place I no longer feel proud to recognize as home. And so, like my grandparents, I'll become an exile. I will sadly observe this debacle from afar.

Hopefully, my dark view of this nation's future will be wrong. 

Regardless of the outcome of the November elections, I fear that we face a terrible reckoning.  The Regime has created an atmosphere where no one will trust the results. Nor should we. Sowing fear and disorder is its aim. I believe that it has succeeded in creating those conditions, and a rapid devolution is coming.  

But regardless of what happens, and regardless of where I am in the world, I'll continue to watch, and analyze, and write, to share my observations about the market with you until I am no longer able. 

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There are 6 rising trend support lines on the hourly between 2905 and 2910.  Then there's a bit of air space to 2898, 2893, and 2883. Those could be broken quickly if the first set breaks. 

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Shorts are covering at 2905. This is the only defense. There are no native buyers.  Once the short covering burns out, the rout will be on. 

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