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Jerome Powell is a Bald Faced Liar 12/17/20

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I watched the dog and pony show yesterday. 

Disgraceful dissembling.  

Most of the questions and answers were, for our purposes, irrelevant and immaterial. They indicated just how little the Wall Street media subsidiary is interested in getting at the relevant facts. 

I'll have more comments about the material things that Powell said, and outright lied about in a bit. 

But first, to the chart! 

First things first, the conventional measuring objective of this breakout to a new high, if it sticks today, is 3795. That's right 3795. 

There are two short term uptrend channels working right now. The ES is touching the top of one at 3715. It needs to clear 3714 to break out through last week's high. If it gets through that, and the top of this channel, which will be around 3725 when NY opens,  and 3745 when it closes. The top of the less steep channel which currently contains the action will end the NY trading day around 3745. 

The 5 day cycle projection is 3730. 

As I'm finishing these comments, the ES is back below the breakout line. It's proving to be at least minor resistance. A slightly rising support trendline is now at 3707. If they don't break that, then we'll see that upside breakout at some point today. 

tvc_fc448d0ee3e241f8a44ee35c9119d5d2.png

 

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I was steaming watching Powell. What a piece of shit that guy is.  Greenspan, Bernanke, Powell, all pieces of shit. The only one who wasn't was Yellen. Those who attack her are clueless. They have no idea what she had to deal with in slowly but surely attempting to move the Fed in the right direction. But Bernanke was right. He trapped all of them. He's the mass murderer whose work can never be undone. 

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I mean, everything is bullish. 

You so smart. Tell me one thing that isn't bullish.

I dare you.

The fact that the sun will start morphing into a red giant and turn the earth into a cinder?

Bullish.  

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i am sitting here thinking..."there is no way out of this mess" and i started running through different scenario's in my head and all of them resulted in bad outcomes...Then it hit me...the one scenario (other than aliens saving us from ourselves)...the one and only possibility that people (including scientist ) actually think might , MIGHT, happen is...wait for it....drum roll.....Fusion energy...so thats it...i am betting we have secret Technology to produce free energy and we will sell energy to the world.... there ...now I have HOPE

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Absolutely about energy.  Economies are 90% about energy.   Sorry about the fusion. Isn't going to happen. At least not if they are going to try and boil water with it. 

One way to look at this all is that they are printing money as a substitute for cheap abundant energy.

Peruse this guy. https://surplusenergyeconomics.wordpress.com/

He's an absolutist however. Saying that everything is energy. No anything is one thing.  

So anyway money isn't going to substitute for energy.  Not for 8 billion humans with climate disruptions anyway.

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9 minutes ago, Jorma said:

It is at a level that is above what it was from 2003 to 2015.  Well I am going by DXY. Other flavors may vary.

Which merely means that it can go a lot lower. That's what worries me. I start to feel it around 1.25. I'm prepared for that. Above that, I may need to move to Montenegro or Albania. LOL 

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