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

Friday 29 April 2016

quite an interesting article by Allister Heath 


The real problem in the UK is that the Conservative Party has allowed a vacuum to develop which for young people has been filled by the Corbynite Left: for the past decade, if not the past 25 years, the party has failed to make an inspiring, coherent, optimistic case for meritocratic, dynamic capitalism. It has done very little to address the structural causes for the discontent: house-building figures have barely risen and people who own nothing and believe that nothing will ever change don’t tend to support capitalism. Tories haven’t made the moral case for free markets, connecting young people’s individualism and social liberalism with the liberating potential of the modern, entrepreneurial and technological economy.
Changing minds and enthusing the public is a laborious and time-consuming job; it requires a long-term strategy and great communications. Instead, the Tories have opted for an easier, short-termist option, the politics of fear. They have become addicted to negativity. It’s all about staving off catastrophes – national bankruptcy if we don’t accept austerity, an SNP-led government sucking England dry if we vote Labour, economic collapse if Scotland leaves the UK, and a supposed outright Armageddon if we leave the EU.


Thursday 28 April 2016

another island reversal ?


Ftse looking very weak early in London


A clear break through 18000 is needed,closing below 17800 would be a fairly convincing sell signal

Tuesday 26 April 2016

bear flag below a  neckline ?

some geometric projections from the first range

Monday 25 April 2016

London metals trader Andrew Maguire says the physical gold market, spurred by China, is steadily taking control of the market from the Western derivatives mongers and "the pressures for a price reset are massive." An excerpt from the interview is posted at KWN here:


weekly chart

Sunday 24 April 2016


small head and shoulders pattern in play

Nasdaq Island Reversal ?

lets keep this one simple....a 13,35 dema cross would provide confirmation that Friday's gap was important

a stab at the possible (short-term) pattern formation on FTSE . April 27 is the 1 year anniversary of the top


...like Shell in previous post one of the biggest FTSE100 components....


loos like  major bottom ....a decline for a right shoulder next ?

Saturday 23 April 2016


Ben Williams on the march toward a cashless society

Thursday 21 April 2016

could be a false breakout above the 6400 resistance level mentioned last week


forming a shooting star,next step would be to break back below 0.618 retracement

major half way point :

Tuesday 19 April 2016

If I am correct there should be limited upside now the the Ftse has hit 6400. Now we just need to wait for a reversal pattern.The Dax has broken up out of an inverted head and shoulder pattern and is  approaching Fib resistance around 10400 and I would definitely feel happier seeing a decent reversal candle here before getting at all bearish

Sunday 17 April 2016

S&P chart from Korelli


Ftse broke through 6200 last week,which was a little surprising given all the previous failures,but that is what stops are for. We also sliced through the 6250 Murrey Math level . We are very close now to the 1 year anniversary of the top ,360 degrees in time. 6400 is standing out to me as the next major level and looking at some of the previous ranges for a countertrend rally 6420 also fits with this (chart below)
7122 - 1080 = 6402
5500 + 900 = 6400
The dates for the April 2015 top were April 17 and April 27.The "flash crash" top in 2010 was April 15

We are currently above 50% of the bear range at 6311 and below the 61.8% level at 6502

I would recommend Korelli's blog for further charts on the Ftse

Friday 15 April 2016


bearish rising wedge and trendline resistance

Thursday 14 April 2016


Tuesday 12 April 2016

small bear flag....breakdown back into the channel would confirm Pinocchio pattern
todays candle was almost engulfing...

Dax should accelerate lower if we can take out 9400

Ftse ....doji on the 200

Saturday 9 April 2016


a very nice weekly candle confirming the emerging bull market in gold mining stocks

Centamin...very bullish chart

Randgold....bullish high level consolidation

Friday 8 April 2016

Dax,4 hr chart - 3rd lower high forming ? looks headed for 9000 to me

a plug for a nice post by a fellow Brit :-)


"From a pure risk/reward standpoint, we have one of the best setups in many years. Whether a trading stop at sp'2075, 81.. or even 2116, the risk is relatively minor, verses potential downside of around 25%."  PD
we got a confirmation of the false break of the channel and the double top marked by the orange line would be the stopout on shorts

initial setup is below

Wednesday 6 April 2016


the "Pinocchio" pattern is still in play if it can break below the trendline.The RSI trendline has already broken


yesterday's price action seemed to confirm the break from the rising wedge pattern. The Dax was also weak

Sunday 3 April 2016


bearish island reversal below a downward sloping 200 dma

The bullish case  :-)


"First of please do not believe the nonsense that many experts spew, when they state that the Fed is scared, it has its back to a wall, and it has to do this or that; in short anything along those lines is total rubbish. The Fed never was and will never be scared, as they have no one to answer to but themselves. When you control the money supply, you control everything. Each move has been pre-planned with precision, and the only ones that are scared are the penguins making these proclamations. Listening to that nonsense might make you feel good for a moment, but you will have nothing to show for it in terms of monetary gains. The better option is to ride on the coattails of these nefarious manipulators and in doing so protect your wealth. One day, the Federal Reserve will collapse, but that day is not today, and the odds are high that you might not be around to see that day.
Manipulation is the order of the day, and this trend will continue to gather traction; it will only end when the masses revolt. The masses are notorious for responding very slowly, so we can assume that by the time they snap out of their comas, the markets will be trading at unimaginable levels. We expect corporate debt to trade at levels that will make today's insane levels appear sane one day. Against this backdrop you have only one option; every major pullback/correction has to be viewed as a buying opportunity. The markets will continue to be manipulated probably until the end of time, so until the trend changes, every strong pullback has to be viewed as buying opportunity."