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Stock Proctologists Know When it Looks Like a Top But It's Really a Bottom

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The American Society of Stocktologists (ASS) brings you this 2 hour bar chart of the ES, S&P 5+495 fugutures for perspective. At 6:30 AM in New York, as US traders arrived at their screens, a breakout was in progress. The conventional measuring implication of this base is, ahem... 

4980

Do I hear 5,000?

tvc_39ee03cd6a647e9494dd6b6de50f3a34.png

Now for the usual hourly bars. 

It's just as bad. We have a nice little meltup channel working. Only needs to be below 4765 by the NY open to break it. But there's a 5 day cycle projection of 4,800 that would be the target for today.  First needs to clear resistance at 4760 and 4770. 

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Meanwhile, the big picture.

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Lee, not sure if you want to do an interview to clear up this nonsense about QE, primary dealer system, and bond market. Would you mind if I introduce you to Tom  Bodrovics at Palisade Gold Radio. He is a very good interviewer. I have been on his show a few times. He hates glamor and hype and is always trying to get good objective information to his listeners.

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Just now, potatohead said:

Lee, not sure if you want to do an interview to clear up this nonsense about QE, primary dealer system, and bond market. Would you mind if I introduce you to Tom  Bodrovics at Palisade Gold Radio. He is a very good interviewer. I have been on his show a few times. He hates glamor and hype and is always trying to get good objective information to his listeners.

Sure. I'll answer questions about my own work from anybody. The bigger the audience the better, of course. Hopefully, they would not ask my take on what other people said. And my knowledge of and interest in gold is limited to the TA. But yes, I'd be happy to. 

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Now that the debt ceiling dirty deal is done. Here it comes. 

No Santa rally this year, kids. 

Bulls don't know it yet, but they are fucked.

Treasury just posted. $145 billion in net new issuance in 2 days next week. 

Screenshot 2021-12-16 172745.png

Prepare for Market Doom, the Moment of Truth Is Here

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RRP slush fund surged on yesterday's T-bill paydown. It's now over $1.6 trillion. That buys them a lot of time. It's enough to cover the deficit for 8-9 months. Doesn't mean that all of it will be available though. 

Prepare for Market Doom, the Moment of Truth Is Here

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