This is the Dax chart from Kimbles post I referred to earlier
 http://blog.kimblechartingsolutions.com/2015/05/sp-500-is-it-repeating-the-2000-2007-topping-pattern/

S&P

there has been a lot of "struggling"price action to try and overcome the February high. On Tuesday the market broke the bullish rising 2x1 angle  when time had squared price by 50% (305 points/153 days). Since then we have had 3 inside days so the direction of the break above or below Tuesday's candle will be significant and a sustained move below the 2x1 should lead to further weakness.I like that the recent top was 3 months from the high. A break above would be bullish,needless to say.

 On the weekly chart the previous week was a spinning top with a a bearish black candle with LL this week

Kimble has an interesting chart.....there's that number 7 again

TSLA

daily chart with some square of 144 levels....

Thanks to Wile for this quote. It still amazes me how many smart people have yet to realise this.If I can find the article from which the quote is taken I will try and post the link

also this,from Martin Armstrong

S&P

Dax

http://www.zerohedge.com/news/2015-05-27/julian-assange-tpp-deal-isnt-about-trade-its-about-corporate-control

"The United States is in the final stages of negotiating the Trans-Pacific Partnership (TPP), a massive free-trade agreement with Mexico, Canada, Japan, Singapore and seven other countries. Who will benefit from the TPP? American workers? Consumers? Small businesses? Taxpayers? Or the biggest multinational corporations in the world?
One strong hint is buried in the fine print of the closely guarded draft. The provision, an increasingly common feature of trade agreements, is called “Investor-State Dispute Settlement,” or ISDS. The name may sound mild, but don’t be fooled. Agreeing to ISDS in this enormous new treaty would tilt the playing field in the United States further in favor of big multinational corporations. Worse, it would undermine U.S. sovereignty.
ISDS would allow foreign companies to challenge U.S. laws – and potentially to pick up huge payouts from taxpayers – without ever stepping foot in a U.S. court. Here’s how it would work. Imagine that the United States bans a toxic chemical that is often added to gasoline because of its health and environmental consequences. If a foreign company that makes the toxic chemical opposes the law, it would normally have to challenge it in a U.S. court. But with ISDS, the company could skip the U.S. courts and go before an international panel of arbitrators. If the company won, the ruling couldn’t be challenged in U.S. courts, and the arbitration panel could require American taxpayers to cough up millions – and even billions – of dollars in damages."

this chart is from Jesse's cafe

The bulls are trying to avert the double top scenario and there is now a bullish twin towers pattern over the last 2 days

http://www.readtheticker.com/Pages/Blog1.aspx?65tf=2045_handsome-gains-in-nyse-index-may-be-over-2015-05

(chart form Ron Walker)  34 points down... a close below the 21 points up marker would be encouraging that this might be a wave 2 (or B)

Ftse

daily is now below the 10,20 and 50 dma,next requirement for bears is a cross

Ftse

Ftse (2 hour candle chart)......has started off the week with a big red candle and break of key moving aves and 7000 price level....maybe at last the Grexit fears gives us a decent correction.The top of the candle is my invalidation point for a bearish view

http://www.telegraph.co.uk/finance/economics/11625098/HSBC-fears-world-recession-with-no-lifeboats-left.html

https://www.youtube.com/watch?v=XcGh1Dex4Yo&feature=youtu.be

97% Owned economic Truth Documentary

http://www.safehaven.com/article/37748/paying-for-the-past-insight-from-lindsey-fisher-and-greenspan

 Greenspan: "We're way underestimating our debt, as of now, largely because we are not including contingent liabilities... What is the probability, in today's environment, that JPMorgan would be allowed to default? The answer is zero or less. Now that means that that whole balance sheet is a contingent liability. To be sure, that while it's contingent there's not interest payments. But ultimately that overhangs the structure, because we in so many different ways have guaranteed this, that and the other thing. It's not only Fannie and Freddie, but it's a whole series of financial institutions. And, regrettably, it's also non-financial institutions. I was very much concerned when we started to guarantee everyone as being too big to fail. But at least it was in the financial area. As soon as we moved over into General Motors and various other non-financial organizations, I said what is the contingent liability of the United States... What the three of us are talking about, the path we are currently on is not going to be easily resolved. It's going to be very difficult... The sooner we get to it the better. But I see no evidence that we're moving in that direction."

http://www.zerohedge.com/news/2015-05-23/secret-pentagon-report-reveals-us-created-isis-tool-overthrow-syrias-president-assad

"And while speculation was rife that just like the CIA-funded al Qaeda had been used as a facade by the US to achieve its own geopolitical and national interests over the past two decades, so ISIS was nothing more than al Qaeda 2.0, there was no actual evidence of just this.

That may all have changed now when a declassified secret US government document obtained by the public interest law firm, Judicial Watch, shows that Western governments deliberately allied with al-Qaeda and other Islamist extremist groups to topple Syrian dictator Bashir al-Assad.

According to investigative reporter Nafeez Ahmed in Medium, the "leaked document reveals that in coordination with the Gulf states and Turkey, the West intentionally sponsored violent Islamist groups to destabilize Assad, despite anticipating that doing so could lead to the emergence of an ‘Islamic State’ in Iraq and Syria (ISIS)."



" The revelations contradict the official line of Western government on their policies in Syria, and raise disturbing questions about secret Western support for violent extremists abroad, while using the burgeoning threat of terror to justify excessive mass surveillance and crackdowns on civil liberties at home......
 

In the wake of the rise of ISIS, intrusive new measures to combat extremism including mass surveillance, the Orwellian ‘prevent duty’ and even plans to enable government censorship of broadcasters, are being pursued on both sides of the Atlantic, much of which disproportionately targets activists, journalists and ethnic minorities, especially Muslims.

Yet the new Pentagon report reveals that, contrary to Western government claims, the primary cause of the threat comes from their own deeply misguided policies of secretly sponsoring Islamist terrorism for dubious geopolitical purposes."

The s&p is 7 years from a major high and 7 months from an important low
arguably 7 week rally too although the actual low was 9 weeks ago. I imagine
this applies to most other indices but havent checked
The conclusion is that any reversal this week or early next week might be significant

Gold had a confluence of "7" cycles at its high,as posted here on this blog at the time

Dax

fib resistance around 11970 and 3600 points off the low is 11950.This week was a high 2 years ago

http://www.globalresearch.ca/china-rise-fall-and-re-emergence-as-a-global-power/29644

http://armstrongeconomics.com/archives/30281

Why Europe Will Lead the Charge to Eliminate Cash – the Next Step in a Global Meltdown

NY Coffee

the hourly chart is showing a pullback to support

weekly :

Who really controls the world ?   (article written in 2011)

http://www.mujahidkamran.com/articles.php?id=28

"In his book Big Oil and Their Bankers in the Persian Gulf: Four Horsemen, Eight Families and Their Global Intelligence, Narcotics and Terror Network, Dean Henderson states: "My queries to bank regulatory agencies regarding stock ownership in the top 25 US bank holding companies were given Freedom of Information Act status, before being denied on ‘national security' grounds. This is ironic since many of the bank's stockholders reside in Europe." This is, on the face of it, quite astonishing but it goes to show the US government works not for the people but for the Elite. It also shows that secrecy is paramount in Elite affairs. No media outlet will raise this issue because the Elite owns the media. Secrecy is essential for Elite control – if the world finds out the truth about the wealth, thought, ideology and activities of the Elite there would be a worldwide revolt against it. Henderson further states:

The Four Horsemen of Banking (Bank of America, JP Morgan Chase, Citigroup and Wells Fargo) own the Four Horsemen of Oil (Exxon Mobil, Royal Dutch/Shell, BP Amoco and Chevron Texaco); in tandem with other European and old money behemoths. But their monopoly over the global economy does not end at the edge of the oil patch. According to company 10K filings to the SEC, the Four Horsemen of Banking are among the top ten stockholders of virtually every Fortune 500 corporation.

It is well known that in 2009, of the top 100 largest economic entities of the world, 44 were corporations. The wealth of these families, which are among the top 10% shareholders in each of these, is far in excess of national economies. In fact, total global GDP is around 70 trillion dollars. The Rothschild family wealth alone is estimated to be in the trillions of dollars. So is the case with the Rockefellers who were helped and provided money all along by the Rothschilds. The US has an annual GDP in the range of 14-15 trillion dollars. This pales into insignificance before the wealth of these trillionaires. With the US government and most European countries in debt to the Elite, there should be absolutely no doubt as to who owns the world and who controls it. To quote Eustace Mullins from his book The World Order:

The Rothschilds rule the US through their Foundations, the Council on Foreign Relations, and the Federal Reserve System with no serious challenges to their power. Expensive ‘political campaigns' are routinely conducted, with carefully screened candidates who are pledged to the program of the World Order. Should they deviate from the program, they would have an ‘accident', be framed on a sex charge, or indicted in some financial irregularity."

https://www.youtube.com/watch?v=Hz6iBu2CBU4   Max Keiser.....Don't stop the banker bashing !

the breakout from circled consolidation should determine next move of substance

http://www.zerohedge.com/news/2015-05-15/uk-pm-david-cameron-proclaims-it%E2%80%99s-not-enough-follow-law-you-must-love-big-brother

Ftse

A break of the rising 8x1should usher in some fresh selling

ttps://www.youtube.com/watch?v=ov2nONOHUGs&feature=youtu.be

my feeling is that this may be a major bottom (silver in sterling)

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/11600220/Epic-global-bond-rout-is-a-QE-success-story-but-it-wont-last.html

Ftse250

has the Dow finally broken out through congestion and left 18000 behind ?

and what about the Transports ?  http://humblestudentofthemarkets.blogspot.co.uk/2015/05/how-worried-should-you-be-about-weak-dj.html

http://armstrongeconomics.com/archives/29835

The Crisis in Democracy – Debt & Electronic Money

http://peterlbrandt.com/the-factor-turns-bullish-on-silver/

Ftse

running out of time....

Dax

interesting chart from Gary Savage

https://www.youtube.com/watch?v=k7H0OojxbWI

good interview with Ole Dammegard

Gold

needs a convincing move through 1200

GDX chart from Kimble

Dax

the Dax appears to have been rejected by the channel I showed in the chart at the weekend,and by the neckline.An inverse head and shoulders is possible if it rallies from here but for now the chart looks weak

http://www.maxkeiser.com/2015/05/russell-brand-and-the-currency-of-revolution/

 

"In the existing financial system, money creation is monopolized by central banks printing money under the supervision of ‘professional’ economists. Professor of journalism David S. Allen (2005) explains how science has become a methodology that backs up professional legitimacy. Expert knowledge and professionalism rely heavily on the so-called creed of objectivity. This creed is the dominant logic based in a positivist and empiricist epistemology accepted by scientists and experts in many fields. It claims impartiality for researchers, as if they are free from their own agendas and biases, when in reality, as one of founders of sociology Max Weber pointed out, value-free objectivity of researchers is simply impossible.

 

Under this pretense of objectivity, elite subjective bias and interests bypass democratic consensus and are encoded right into monetary policy. This is a pseudoscience of economics that closes the system off from feedback and till now helped it escape critical examination. It creates math that is divorced from the reality of people’s needs and is used to enact the current Ponzi pyramid scheme of wealth redistribution from the bottom to the top. Digital numbers on computers can become abstractions that tend to divert the flow of real work or stagnate real economic activity. This manipulated ledger deprives the power of ordinary people to work creatively with numbers that represent their true value. These numbers have become weapons of mass deception to enslave people through debt, usury and devaluation through quantitative easing."

http://hitchensblog.mailonsunday.co.uk/cameron-david/

"I never for a moment imagined that Big Money and Big Lies could so successfully scare, cajole and diddle the electorate of this country. I grew up in a Britain both better-educated and more honest than the one we have today. Perhaps that is why I could not see this possibility.   I have not seen, in my lifetime, a campaign so dishonest, so crude, so based in fear and so redolent of third-world and banana republic political tactics."

"But I must now admit that the people of this country actually seem to prefer to live the same experience over and over again, and seem astonishingly ready to believe the crudest propaganda. I seethe with frustrated amazement at the Tory claim  to have fixed the economy, so blazingly untrue that in commercial advertising it would get them into serious trouble with the authorities."

NY coffee

if coffee were bottoming I would expect a number like 144 to be offering support,not resistance

The Dax might have bottomed last week,Friday's candle was very strong and so was the weekly,but for now I am watching this channel and the 250 ma and still inclined to go with May seasonality if there is no followthrough

daily ichimoku :

 
I posted this on a message board last week though not here


"Dax daily candle still bearish some signs of support coming in on intraday. Daily chart has retraced 38% of major range
(5 period rsi)"

According to a February 2014 study by the McKinsey Global Institute,
“Debt and (Not Much) Deleveraging,” total global debt is up 40% since
2007 to $199 trillion. As a percentage of GDP, “debt is now higher in
most nations than it was before the crisis” of 2008/2009. On average
globally, it is 286% now vs. 269% in 2007.
Despite the economic rebound since 2009, McKinsey found that the debt
of households, corporations and especially governments continues to
rise. “Governments in advanced economies have borrowed heavily to fund
bailouts in the crisis and offset demand in the recession.”

source EWI

my thoughts on the election exactly !

http://www.newtraderu.com/2012/08/20/why-the-cup-handle-chart-pattern-works/#

http://www.maxkeiser.com/2015/05/martin-armstrongs-the-forecaster-movie-now-available-and-a-must-see/

rally should fail around the 100 ma again

5th LH,need to watch for IHS but looking lower

 2 hr chart showing bearish twin tower reversal on FTSE100 after 240 point election rally

http://armstrongeconomics.com/archives/30281  New world order economics

http://wolfstreet.com/2015/05/07/don-quijones-who-designs-europes-new-tax-system/

TRAN

The Transports seem to be losing the 200 dma,dead cross possible soon...

SPX

Nasdaq

(Gann lines are a little off in lower chart because it was originally drawn off weekly)

are we carving out a top based on 2106 resistance ? (666 + 360 + 360 + 360 +360 )

http://davidstockmanscontracorner.com/blogger-bens-basically-full-of-it/

Ftse

Seasonality chart

chart from VTrader's blog

from Jesse's Cafe Americain

http://jessescrossroadscafe.blogspot.co.uk/2015/05/power-essence-of-banking-is-to-grow-and.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+JessesCafeAmericain+%28Jesse%27s+Caf%C3%A9+Am%C3%A9ricain%29

"Another cause of today’s instability is that we now have a society in America, Europe and much of the world which is totally dominated by the two elements of sovereignty that are not included in the state structure: control of credit and banking, and the corporation.

These are free of political controls and social responsibility and have largely monopolized power in Western Civilization and in American society. They are ruthlessly going forward to eliminate land, labor, entrepreneurial-managerial skills, and everything else the economists once told us were the chief elements of production.

The only element of production they are concerned with is the one they can control: capital."

Professor Carroll Quigley, Oscar Iden Lecture Series 3, 1976

Dax

treating this as bearish for now until some key moving averages are  broken

here is the 2 hr chart,with a very clear topping pattern and downward sloping 200 ma

Cocoa

Cocoa formed a bearish engulfing candle on Friday ,this may be a 3rd top forming around  3000 before another leg down

Crude

Crude could be ending an ABC correction. 63.6 is 50% from the low Gann resistance.

TLT

Last week's candle was ugly and bonds do not appear to be oversold