S&P

Ftse

my guess is that this correction is nearly done...ideally 6280-6300 ?

http://www.safehaven.com/article/38679/gold-and-silver-nwo-in-its-element-problem-reaction-solution-beware

"Remember, Obama had the rules changed, something he did not tell you. Any and all "money" you deposit in a bank is no longer your "money." It belongs to the bank, and you are now a creditor, a very special one. How special? In the event of a bank failure, you stand last in line to make any claim against the bank. Who is first in line? Banker's derivatives, their high-risk insurance bets being laid off on you. How special do you feel as a bank depositor, now?
Here is the deal: We now live in a nation where banks destroy the economy, lawyers destroy justice, the press destroy information, doctors destroy health, universities destroy knowledge, religions destroy morals, and governments destroy freedom. Welcome to America, everyone. Europe ain't any better."

Michael Noonan

Dax

so far the Dax weekly candle is looking like a bullish hammer.....here is a possible wave count

Ftse

Interesting trend line from Market Anthropology

FTSE

the chart pattern projects to around 5650

http://www.safehaven.com/article/38676/the-stock-nirvana-has-been-broken

"Preparing for the coming busts is not scaremongering; it is common sense when looking back over the largest financial experiment in history since 2008.
There are ways to grow one's money in the period ahead. But it requires changes and doing things differently for the bust than were done in the last 4 years of the boom. It also requires admitting that for most, it was just easier not to think, and leave the planning and artificial levitation schemes to central bankers, than to think for yourself and admit that the plan was not sustainable from the start.
There are also changes that will come, that are much larger than merely the investment markets. Phillipp Bagus book, The Tragedy of the Euro, published in 2010 by the Mises Institute, reminds us of how far we have come down the road of "central planning". Clearly, it encompasses far more than investing.
"The institutional setup for the European Monetary Union has been and economic disaster. The Euro is a political project; political interest have brought the European currency forward...economic arguments launched to disguise the true agenda behind the Euro have failed to convince the general population of its advantages.
The logic for interventions propelled the Eurosystem toward a political unification under a central state in Brussels. As national states are abolished, the market place of Europe becomes a new soviet union." [p129]
I have thought about Bagus comments often in the last few years. How did we ever become fooled into thinking that with enough debt and central planning, we were heading back to "normal"? What has taken place since 2008, is that our world and markets have become more and more concentrated into fewer and fewer hands. For those who make no plans or changes for the bust phase, they will only feed that concentration of power, as we look to central bankers for more "bailouts".....which this time, they have told us already, are not coming."

Dax

last week I said the green Gann line was showing support and Fridays candle was bullish with resistance at the red line.
Monday was bullish followthrough,Tuesday was spinning top (hesitation) and Wednesday reversed back below green line.Then kaboom ....
tuesday was 21 td so maybe we decline to 34 td (Fri Sep 4 ? ) .....

Ndx

A multi-year double top.The RSI looks to have further to go before any bounce is likely.

Could be a 1,2,i,ii ?

weve just broken down from a 6 month trading zone ...2040-45 seems to be the lower band.....old support now resistance

approx 90 point range,so some suport at 180 ? (1950ish)

Topped on May 20......recent "acceleration" move started 3 month later (Gann 90 degrees)

break of the 200 dma and Ichimoku cloud was brutal

charts by Ron Walker

the Ftse wedge(which I thought might be an ending diagonal) gave a good sell signal when it broke 6500

looks like game over to me if they cant redeem this weekly candle in a huge way tomorrow

bearish twin towers forming on the monthly ?

Dax

Dax needs to do a lot of work to redeem the weekly candle.It looks headed to 10 000 area quickly

Ftse chart from this morning

since the peak we are getting 2-3 lower lows on the weekly chart and only 1 higher high on the rallies,a sign that momentum is shifting to the downside

http://www.telegraph.co.uk/finance/11805523/Doomsday-clock-for-global-market-crash-strikes-one-minute-to-midnight-as-central-banks-lose-control.html

interesting explanation and exploration of Shemitah (link from Red Dragon Leo)

https://www.youtube.com/watch?v=Wu6QWOWat6Q

S&P fut

Dax

this trendline should break soon

Dax

I posted this a while back.....the wave 4 option looks to me to be off the table now

SPX

15 min

hourly

blue line is the 618 and yellow line is the 50 from the larger range....these cluster to form important resistance

Ftse (early session)

Yesterday was very volatile in the Ftse and I was not expecting to see the highs tested again in the afternoon.This morning appear to be reversing again,having flushed out all the bears :-)

PCLN

not one I look at often but this time/price relationship jumped out at me

a very strong daily candle today....here is the 30 min chart (Ron Walker,my annotations)

AAPL still looks weak

HL

Toyota

that 144 number again :-)

thanks to Max Gluteus for this post,from "Golden Jackass"

QE never ended. It was just done through proxies. +1T Japan for starters. Summarized by the Golden Jackass:

"Simply put, QE can never be halted or even slowed. The USFed is in a corner, with no policy options, facing collapse, with no ability whatsoever to halt the systemic failure in progress. It can only rely on hidden machinery and profound lies, against a background of constant economic propaganda. The central bank franchise system wrapped around the fiat paper currency regime has failed. They cannot stop it, not even with endless bond fraud and endless war, the new twin towers of the fascist state legacy. The entire financial structures have become fully dependent on easy money and debt financed by a printing press, buttressed by derivative machinery. The Uncle Sam bearing the USDollar emblem is like a pathetic heroin addict brandishing a modern howitzer. The USDollar is fast losing its integrity, during a dangerous global rejection episode. Therefore, QE must be exported, the easy candidate Japan. Call it Operation Tokyo Twist.
Heavy pressure, threats, and subterfuge are the American way. It is yet another sordid chapter in the Weimar Amerika story. QE to Infinity is the marquee billboard message, which will be perpetuated until the USGovt debt default and US financial collapse, forcing replacement of the USDollar. A Japanese syringe does not prevent the USD death, only delay it while deeper cancer spreads to the Japanese Economy and its financial structure. The United States is fast running out of nations to plunder. See Libya, Cyprus, Syria, Ukraine, the Philippines. Now Japan. Witness death of the US nation. The national carving ceremony will b"e very interesting to observe in future years, after the commercial colonization (by China).

https://www.youtube.com/watch?v=rkELgi6EkNo   Jeff Berwick on the Shemitah cycle

http://www.shiftfrequency.com/big-pharma-buys-research-findings/

"Makia Freeman – Fraudulent scientific research is rife throughout the world due to the power of monetary influence wielded by Big Pharma, the giant cartel of multinational pharmaceutical corporations started over 100 years ago by the Rockefellers. This fraudulent scientific research is now so widespread and pervasive it is become an open secret. There is a long list of medical journal editors, doctors and professors on the “outside”, former Big Pharma employees and executives on the “inside,” as well as government officials somewhere in between, who have stepped forward as whistleblowers and acknowledged the fraud. Money buys favorable research. Period. This is not really surprising, given the history of Rockefeller Western medicine and the fact that Big Pharma’s business model is based on “managing” disease, “treating” symptoms and keeping patients on the hamster wheel, rather than actually healing them completely.2

S&P weekly candles

NYSE

The broad market in the US continues to look weak

Ftse

some Ftse charts

sell signal today using the 2 hour chart and simple 17 period moving ave

seeing as we could be in a triangle I attempted a wave count

the long term chart leaves little doubt to me that the top is in

  http://moneymorning.com/2015/08/01/what-america-would-be-like-without-the-federal-reserve/

 

Carol K | August 1, 2015

What a wonderful dream…! Mine went on to notice the pharmacy down the street that
had shelves full of true organic products and few prescription drugs since new non-toxic methods of healing were now known to work better. Next door the supermarket was
full of fresh fruits and vegetables locally grown pesticide-free and brought in each fresh each morning . They were non-GMO and didn't need labels as that had been outlawed. Monsanto went bankrupt and the staff went to prison for poisoning the population!
The skies were a lovely crystal clear blue with no chem-trails and toxic metals raining down on anyone. There were flowers, birds and bees everywhere. musicians roamed the streets and people gathered sing the old songs they still knew. Overhead the quiet trains zipped by carrying people to many locations for work and play.
The news reported the Congress had been re-organized with new short terms filled with
members who really shared the dream of creating a world that worked for everyone.
The world looked more like the one we were promised a century ago!

Cocoa

the bearish call on cocoa has been correct but I want to post this to show a possible bullish scenario.Short positions should be protected with stops,as always.

Ftse

I remain of the opinion that another big fall is imminent in the Ftse...Bulls need to take out the horizontal resistance in first 2 charts

http://www.armstrongeconomics.com/archives/35542

scary article from Martin Armstrong about Windows 10 (thanks to Tim for the link)

Dax

Grantham

https://www.gmo.com/docs/default-source/public-commentary/gmo-quarterly-letter.pdf

Trying to understand deficiencies in democracy and capitalism

Democracy

“The central point that emerges from our research

is that economic elites and organized groups

representing business interests have substantial independent impacts on U.S. government policy,

while mass-based interest groups and average citizens have little or no independent influence

.”

[Emphasis added.] This is the killer conclusion of a paper last fall by Gilens and Page.

Based on the

study of almost 1,800 policy issues for which income breakdowns were available, and defining the

“Elite” generously as those above the 90th percentile, it finds that “majoritarian electoral democracy”

is largely a thing of the past.

To keep the review of this study short, it is probably only necessary to point out that the average bill in

the U.S. Congress has a 31% chance of passing; this chance falls to 30% when the proposed legislation

is hated by average citizens and rises to 32% when they love it! In contrast, love from the economic

elite, although not absolutely guaranteeing success, raises the chances of its passing to 60%.

But when

the elite truly detest an issue, it is like passing a death sentence: About 1% of these bills pass

!

It would be helpful to know one day whether it is the 1%, the .01%, or only the top 2,000 or so who

really drive this data, for it is surely not the top 10%. Other than that, the data speaks for itself: It would

seem that “government of the people, by the people, for the people” has indeed, for practical purposes,

“perish(ed) from the Earth.” Lincoln would no doubt urge us to try to resuscitate it.

June candle was an elephant bar and took out 4 previous monthly lows (and previous 7 closes) .July did nothing except consolidate the bearish reversal
where Ftse leads others follow.......not always but frequently. Heightened commodity exposure (and hence global growth/deflation sensitivity is the main reason imho) European financials exposure is also a (secondary ?) factor
August needs to close above July high to reverse this very bearish picture imo