SPY false break

my read is that the 5 wave pattern identified in the lower chart from 2 days ago is correct and we made a lower daily low today.....caution should always be applied to holiday trading,thin volumes,exaggerated volatilty etc

http://www.washingtonsblog.com/2015/12/2015-first-pre-election-year-end-red-since-great-depression.html

the support/resistance levels I think are important for the next move in gold

a chart from trader Moe "looking for the right shoulder"

Crude

a brief look at the 2 hr candle chart shows a potential bottoming above the natural Gann support level of 36 and the 75 pma possibly starting to turn back up.I need to do more work on the longer term charts but worth keeping an eye on

http://mrtopstep.com/complete-failure-of-abenomics-retail-sales-decline-factory-output-contracts-businesses-reject-abes-plea-to-hike-wages-fine-tuning-a-la-willem-buiter/

http://www.armstrongeconomics.com/archives/41005

"David Cameron is perhaps the WORST Conservative in British History. He is doing everything possible to remain in league with Brussels. Cameron’s comment after rigging the Scottish vote to ensure Scotland could not leave the UK was shocking. He said the vote settled the question for “for a generation” revealing his pro-government posture and anti-Democratic undertone. This posture goes all the way to agree with Brussels, and Cameron’s arrogance (video of his speech) was just stunning. His promise for a referendum to leave the EU was a bullshit ploy he never expected would actually stand a chance to win."

"We will see Britain facing a tremendous political upheaval as we approach 2017. We have warned that a year-end closing for the pound below 147 will warn the currency is preparing to crash. We have additional year-end sell signals at 146.15 and 140.50. The ONLY POSSIBLE HOPE TO SAVE BRITAIN will be Nigel Farage. Both Labour and Conservatives have simply lost their minds."   Martin Armstrong