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The Dinosaur Has Eaten 1/25/21

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As of 4:45 AM ET, the ES fucutures are pulling back from a high of about 3852, heading for multiple support lines around 3839+40. I imagine we'll get a bounce from there. If it doesn't, or if it's weak, the next target would be around 3824-25.

If the 3840 area holds, then the uptrend that started late Friday would be intact. A 2-3 day cycle high would be due during regular trading hours today, and a 5 day cycle high would be due on Wednesday. There are no projections on these intraday cycles at the moment, although I think that at least a test of the high would be in order. For longer term projections and the big picture, see Cycle Analysis Target Projections Point Higher Still (risk free trial for new subscribers).



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Bounce failed. New trend support suggested 3830-33. Let's see how that holds. 

30 minute bars.

Click to engorge.tvc_effd08e2a497a8931772e89242d8a66d.png

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investors are shrugging off a most important case against the FCC and the wireless industry.
Eat this, Crapple!
Today: Press Conference and Oral Arguments in the Landmark Case on 5G, Wireless and Cell Phone Tower Radiation
Environmental Health Trust et al. v. Federal Communications Commission
DATE: Monday January 25, 2021
Time: Monday, January 25, 2021 at 2 p.m. EST
Devra Davis PhD, MPH will review the court proceedings with EHT’s attorney Edward B. Myers.
Environmental Health Trust, the environmental health organization led by Dr. Devra Davis, a member of the team awarded the Nobel Peace Prize as a lead author for the Intergovernmental Panel on Climate Change scientists, will hold a press conference following the Monday morning oral arguments at the US Court of Appeals for the District of Columbia in the landmark case Environmental Health Trust (EHT) et al. v. the Federal Communications Commission (FCC).  
EHT et al. v. the FCC seeks to have the Court order the FCC to remand, vacate and update its 25-year-old exposure guidelines for radio-frequency radiation (RFR) from cell phones, cell towers, Wi-Fi, 5G and other wireless communication devices.
After consolidation in the District of Columbia Court of Appeals, the legal briefs were filed jointly with Children's Health Defense(CHD), Consumers for Safer Phones and numerous other petitioners including Elizabeth Barris, Theodora Scarato MSW, Michelle Hertz, Petra Broken, Dr. David Carpenter, Dr. Toril Jelter, Dr. Paul Dart, Dr. Ann Lee, Virginia Farver, Jennifer Baran and Paul Stanley M.Ed.
EHT is represented by Edward B. Myers who intervened in the successful case of the Natural Resources Defense Council (NRDC) and several Native American Tribes against the FCC when the Court upheld the relevance of the National Environmental Policy Act (NEPA) in FCC’s 5G proceedings. 
CHD is represented by Robert F. Kennedy Jr., Chairman of Children’s Health Defense, who has championed numerous cases involving industrial pollution -including Monsanto Roundup weedkiller cancer litigation and major land and water contamination cases- and by Scott McCullough, a seasoned telecom attorney and former Assistant Texas Attorney General who represented the Irregulators in Irregulators vs the FCC. McCullough will present EHT, CHD and Petitioners’ joint case in oral argument.
Oral Arguments 
The oral arguments in the case are scheduled for Monday, January 25, 2021 at 9:30 a.m. and audio will be livestreamed. The three-judge panel in the US Court of Appeals for the District of Columbia that presides over the case includes the Honorable Karen Henderson, Patricia Millett and Robert Wilkins.
The Petitioners contend the FCC ignored the extensive evidence submitted to the agency showing that non-thermal levels of pulsed and modulated RFR emitted by wireless technology are harmful to humans, wildlife and the environment, and its order failed to provide a record of a reasoned decision making. Therefore, the Petitioners claim the FCC has violated the Administrative Procedure Act (APA) and its decision is capricious, arbitrary and not evidence-based. In addition, the Petitioners argue that the FCC violated NEPA because the agency did not consider the environmental impacts of its decision. FCC also violated the 1996 Telecommunications Act (TCA) in failing to consider the impact of its decision on public health and safety.
The FCC ignored numerous submissions detailing injuries and rapidly growing illnesses from radiofrequency radiation, and ignored calls such as those from the cities of Boston and Philadelphia to address the injury. Petitioners argued that the inadequate FCC guidelines are used to deny accommodation in violation of the Americans with Disability Act. The Petitioners filed 11,000 pages of evidence - 447 exhibits in 27 Volumes- in support of their claims. Environmental Health Trust filed 60 of the 447 exhibits.
“Environmental Health Trust has worked for over a decade to protect the public from radiofrequency radiation, testified to Congress and published critical research on why children are more vulnerable,” said Devra Davis PhD, MPH, President and founder of Environmental Health Trust. “Over the years, the FCC has ignored our extensive submissions that clearly document harm. As the legacies of lead, asbestos and tobacco teach us, this issue deserves immediate attention from our federal government in order to protect our children’s health now and throughout their lives.” 
The NRDC filed an amicus brief in the Petitioners’ case on the need for environmental review signed onto by Mayors and Councilmembers from Maryland, Massachusetts, Michigan, California and Hawaii. Attorney Joe Sandri filed an Amicus Brief with a statement by Dr. Linda Birnbaum, former Director of the National Institute of Environmental Health Sciences of the National Institutes of Health and former Director of the National Toxicology Program (NTP) who detailed the findings of the NTP and concluded, “Overall, the NTP findings demonstrate the potential for RFR to cause cancer in humans.” The Building Biology Institute and Kleiber family filed Briefs on injuries sustained from exposures allowed by FCC exposure guidelines.” 
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I spend countless hours building these charts, yet for some odd reason, I cannot get anyone to take my work seriously. 


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