It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford

Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin

The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj

Saturday 28 February 2015


reversal day on Thursday


6 consecutive days showing resistance at 6920 Gann level,reversal day on Friday
We basically traded within the range of last Friday (20/02) aside from a small pop....breaking that low should lead to weakness



Very important for bulls that 18000 holds on  any pullback.Last Friday was a convincing breakout but we had a spinning top and a doji this week followed by a bearish candle on Friday,with a possible evening star pattern

here is the SPY chart

Friday 27 February 2015


Wednesday 25 February 2015


Tuesday 24 February 2015


I think the 90 td cycle kicks in today but it may wait for the 3 month HH = 6 month time cycle ? Lots of price time convergence however trend remains up and QE kicks in next week ...interesting :-)


Big surge through 2000 coming ?

Monday 23 February 2015

Sunday 22 February 2015



The Dow has been lagging stronger US indices.On Friday it broke through 18000

Gann rule of 3






measured move resistance at 6940 on the futs and of course 6920 on the cash (2x low)

Saturday 21 February 2015


new highs,major resistance at 2150

we appear to be in a 5th wave of 3 or C from the October low.Resistance from the 1x2 Gann line and very extended from 200 dma


Friday 20 February 2015


Krugman thus supports what monetary reformers like Prof Steve Keen identify as the orthodox ‘Loanable Funds Theory’ – often (wrongly) defined as “Keynesian”. Professor Mankiw of Harvard, a prominent neoliberal economist, defines ‘Loanable Funds Theory’ this way: “Saving is the supply of loans – individuals lend their saving to investors or they deposit their saving in a bank that makes the loans for them.  Investment is the demand for loans – investors borrow from the public directly by selling bonds or indirectly by borrowing from banks.” (Mankiw, Macroeconomics, p.65).
According to this theory money for loans is provided by savers, and the ‘price’ (or rate of interest) for loans is determined by changes in demand and supply of ‘loanable funds’. Credit does not appear to enter into the theory. Mankiw and Krugman do not appear to accept that banks create credit--“out of thin air”--on the guarantee of collateral, a contract to repay over a fixed time period, and at a certain rate of interest. Instead, according to this view, they are simple intermediaries between savers and borrowers; between those who are ‘patient’ savers and ‘impatient’ borrowers.


possible price/time/angle convergence early next week

The part of the Irish administration charged with advising the government on the carve up and sale of our state’s (people’s) assets is called ‘New Era’. This utterly opaque entity is enormously difficult to get real information on. The current distraught and legitimate anger of the Irish community over the stealing of their resources in return for loans to bail out rogue bankers belongs at their door. Creeping privatization of energy resources, community and social services, health care and most importantly our sacred waters by an incestuous elite of corporate, bankster and political cronies sees little improvement in the oligarchical landscape of Ireland since the early 1800s. Different psychopaths – same old MO.
Read more at http://www.maxkeiser.com/2015/02/protester-arrests-and-jailing-continue-apace-in-bankerland/#WZUyt0mgwYh0W3tB.99

(thanks to Richard at Danerics for this,originally from Charles Hugh-Smith)  http://www.shiftfrequency.com/charles-hugh-smith-greece-and-the-endgame-of-the-neocolonial-model-of-exploitation/

Thursday 19 February 2015



A reversal at or below 6920 would be a sell signal (2x Low)
Yen hourly...5 down ,3 up...should be followed by weakness when C is complete


starting to move ?

Wednesday 18 February 2015

Tuesday 17 February 2015

Cable looks like it might need another spike down to the lows.Watching that 2 year cycle off March 12 should this occur


I posted the longer term chart of cocoa recently....we are looking for a reversal to confirm start of another leg down,perhaps a backtest of broken support line ? Daily ema's are in bull formation currently

weekly :


bear flag ?

Monday 16 February 2015





Important support being tested

Sunday 15 February 2015


well the Ftse has been on life support since May 2012 ,looked like it was dying in Q4 last year nd is now threatening to break out presumably inspired by thepromise of "free cheese" from Draghi......
Price action next week or two is likely to be critical. Remember 6920 (2x low)


Here is the expanding wedge pattern I was looking at for the Dax.Fridays candle was a doji but the overall weekly candle was bullish .Bears were not able to sustain the dip back below critical 10800 level
 However the market is very overextended against the 200 dma,around 9700

Friday 13 February 2015


Vix reversed below triangle,favors equity bulls for now



" the Greek Finance Minister, Varafoukis, knows how to play this game because he is an expert at game theory.  He has now opened up a dialogue with China and Russia.  This is unacceptable to the EU and the United States.  Neither the EU nor the U.S. would welcome a Russian naval base in Greece.
Major Repercussions For Europe And The World
Regardless of the outcome in Greece, there will be major repercussions for Europe and the world.  The world is already very close to an avalanche of money printing and defaults.  Also, other countries in the EU are waiting to follow Greece.
In Spain, an even more radical opposition party than the one in Greece is now well ahead in the opinion polls and is likely to win the November election.  Their platform is a canceling of debts with the EU, public control over energy and banks and withdrawal from NATO.  And in Italy, all three opposition parties are anti-euro.  They are calling for a return to the lira.  This anti-euro sentiment is already spreading to France."

thanks to Wile for link 


Thursday 12 February 2015


Wednesday 11 February 2015


Tuesday 10 February 2015


MM lines....

Dax backtesting

the stars are aligned....we just need confirmation (a reversal candle below or around 10800)

and a few hours later...sell signal on Dax.Bearish rejection of 10800 (3 times the low) and lower high

Sunday 8 February 2015