Goldtent TA Paradise

SPX “W” Pattern…

1. pedro_deleon says:

   December 14, 2015 - 9:08 pm at 9:08 pm

   I have alerts suggesting that indeed a s/t bottom is forming.
   We got a 1 / 4 overlap in the larger move off the Aug lows.
   But that still allows for a terminal pattern of three-wave legs all the way up.
   So an ABC up for 5 from here might be all she wrote.
   Dynamically, my monthlies should sell in Jan.
   Which could mean last wk of Dec or in Jan itself.
   Will reshort after this next up leg concludes. It could be the final hurrah.
   If its too strong though, the bulls retake the reins. Not expecting that, at all.
   Not given other LT charts, including energy, which is where relief WOULD HAVE TO BE FOUND if its coming.

2. pedro_deleon says:

   December 14, 2015 - 9:18 pm at 9:18 pm

   The Fed has been papering over JUNK for decades, printing de novo, to mask any incipient breakdowns in the credit markets.
   From Continental IL, to the LAmer debt crisis, S&Ls, LTCM, tech, housing, and now energy sector bonds.
   So now the tide is going out AGAIN.
   And we’re closer to the realization that the entire planet is insolvent.
   Not totally apparent to most quite yet, since many hold bonds they THINK have value. Even though they are never paid off, just rolled over. But the income is not there to service them.
   Once the defaults get going, what stops the cascade? What you ‘own’ is what someone else owes but can’t pay back.
   The US is hollowed out, economically, yet our dollars are the reserves standing behind every other nation’s currency.
   Think about that one.

3. EagleSeagle says:

   December 14, 2015 - 9:36 pm at 9:36 pm

   Expecting this bullish move ONLY if the Fed can talk up the market on Wed. Living on borrowed time…

4. Fullgoldcrown says:

   December 14, 2015 - 9:57 pm at 9:57 pm

   Looks like a good shot Eagle