so far this seems to be panning out pretty well....gap up through the BB and gap back down below....whether the wave count is correct is another matter :-)

Dax

despite the overnight "Clinton effect" the market appears to be breaking down off the 3rd high  (see yesterdays weekly chart)

bear porn :-)

bearish 1,2,3 tops pattern on weekly chart at the critical 50% level......4 days to go but not looking good so far

Dow

This is a weekly candle chart....price has been rejected by the mid point of the bearish marubuzo candle 3 weeks ago. Support should be evident at the previous highs,a break of which would be very bearish

Peter Hitchens/Mail Online

Syria's 'WMD moment'. Don't be duped again

Almost everyone (barring a tiny knot of deluded losers) knows that Saddam Hussein had no WMD. Most people now grasp that Colonel Gaddafi wasn’t planning a massacre in Benghazi or ordering his troops to engage in mass rapes.

How long will it be before we also grasp that neither Russia nor Syria bombed a UN aid convoy in Aleppo?

This incident, about which almost no independently testable, checkable facts have yet been produced, is the WMD of Syria. If we all fall for it, then we shall very soon find ourselves embroiled in the most dangerous international confrontation since the Cuban missile crisis.

Under immense pressure from the despots of Saudi Arabia, the USA will not give up its efforts to overthrow the Syrian government. It is clear that it is now prepared to risk an open confrontation with Moscow to achieve this. Why? Who do they think they are, and how can their cause be so good that they take such risks?

The deliberate sabotage of a workable peace deal in Syria (opposed from the start by the Pentagon) is one of the scandals of our age. There was a chance we might end the misery of millions, and it was thrown away.

We in Britain must resist being dragged into a Syrian war, not least because, if we are, it will not be long before any troops we send there are being hounded in their own country for alleged war crimes. We’ve been fooled enough by this propaganda. Don’t be bamboozled again.

Read more: http://www.dailymail.co.uk/debate/article-3805989/The-world-s-fixated-Trump-Hillary-drag-catastrophic-war-writes-PETER-HITCHENS-America.html#ixzz4LGNoKDld
Follow us: @MailOnline on Twitter | DailyMail on Facebook

Ftse250 could be forming a small diamond top pattern

Ideally bears need to get the Dax back below 10600 by eow

http://wolfstreet.com/2016/09/21/oecd-warns-fed-boj-ecb-of-asset-bubbles-risks-to-financial-stability-pinpoints-us-stocks-real-estate/


this is a good article,but I like this from the comments section,even better

cdr

September 22, 2016 at 6:13 am

d,
The patient (we in the US) is responding to the drug (idiotic monetary policy) just as they expected and intended. The results you, I, and 99.9% of us want are just not the same thing they want. The Fed is protecting the ‘financial markets’, aka bubbles and their reputations and a few very rich people and the politicians who work for them.

Yes, they are protecting their reputations. They MUST publicly deny the existence of bubbles because if they admitted even one that they caused, then they would have to explain too many uncomfortable things that would crack the incompetence door much wider.
Even admitting 1 bubble would require them to provide explanations to:
1) If their theories are so good, why do they excel at bubbles in financial markets and asset prices and ignore benefits to the real economy
2) Why do they continually apply these theories if they have unintended consequences of such magnitude?
3) Why do they apply these theories over and over again if they don’t work?
4) How did “Going Bigger For Longer If It Does Not Work Today” become the mantra to ignore failure by defining it’s failure only if you admit your mistake and stop what you’ve been doing. Or, anything that’s not success is never failure … it’s always success, just not as much of a success as they wanted.
Finally, they can’t raise rates and change policy. The Fed is in a prisoner’s dilemma with the ECB, BOJ, BOE, and most minor central banks. The only reason monetary policy can crush interest rates so well is that they all are doing it in a coordinated manner. If the Fed broke ranks and tried to normalize rates, they would ruin the schemes the other two employ … The ECB monetizing bad euro debt to keep the plate spinning a little longer and the Japanese doing god knows what. The Fed doesn’t want to be the one that explodes the sovereign debt bubble. How would they explain that?
It’s not complicated, but there is a lot of BS that surrounds the bad policy they implement.

Dax monthly chart

Ftse

this week is one of Gann's most important weeks in the year when" the sun crosses the equator and Fall officially begins and stocks make important changes in trend"
(WD Gann The Stock Market Course,1935)


for a move lower generally I think we need to see something like this in the Nasdaq,which was strong last week
ie a spike through the upper Boll and then reverse hard

IBB has also been showing relative strength and is looking like a 3rd attempt to break 300 (25% off the low)

Farewell to a brave and inspiring political leader

If only there were more like him :-)

Dax

following last weeks weekly reversal candle we gapped down.......so looking like a swing failure at the 50% retracement

http://edgetraderplus.com/market-commentaries/gold-and-silver-are-money-everything-else-is-debt-globalists-biggest-scam

http://www.independent.co.uk/news/world/middle-east/egyptian-911-inside-job-state-media-war-on-terror-isis-made-up-al-ahram-noha-al-sharnoubi-columnist-a7308926.html

According to the report, “journalists are obliged on national security grounds to report only the official version of ‘terrorist’ attacks” under an anti-terrorism law passed in 2015.

S&P

a 3rd bear cross of the moving averages might prove pretty fatal....the market is certainly looking vulnerable here

It amazes me that even today so many people still laugh at the idea of false flags as "conspiracy theory"

http://www.washingtonsblog.com/2016/09/false-flags-3.html

"3 peaks" pattern ? Chart by David Larew

Dow,S&P

Friday's marabuzo candle implies strong downside momentum but the white resistance area (from the previous highs) should be strong support....could be an interesting week

my A,B  could be a 1,2 and my  C could be a 3,but we should see more downside regardless

Dax

break down from 10800 Gann circle level (30 x 360) and from  top of rising wedge pattern ?

bearish engulfing weekly reversal candle

Dax

so far unable to take out the high of the last reversal bar (10807)

Ftse

Friday was a bullish marabuzo candle on high volume. I have circled the 3 lows which were all tests of previous resistance

REM

cHart taken from The Gold and Oil GUY