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Playing the Ponzi
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Why “Playing the Ponzi”? I view the entire monetary and financial system as something of a Ponzi scheme. Starting with currency that is created as debt, and running straight through a global economic model that is based on infinite growth in a finite world. This won’t end well. I’d go a step... More
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Playing the Ponzi
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  • SPY breakdown update

    The S&P has traded within a fairly narrow channel while dropping the last two days.  Going back to its last top within the pennant, it appears to be in early stages of forming a falling (bullish) wedge.  Here is how I see it:

    Tags: SPY
    Nov 21 2:32 PM | Link | Comment!
  • S&P Pennant Resolving or Bouncing?

    The S&P has pushed to the bottom of a pennant pattern that has formed over the last month or two.

    One could play this for a short term bounce here, or wait for a convincing break to the downside before laying in some shorts.  In the larger context, a break to the downside here would seem to suggest that there is indeed very firm resistance at the 200 day, and the pattern replica from 2006-2008 continues.

    Nov 17 10:29 AM | Link | Comment!
  • SPY pennant forming

    The Head & Shoulders neckline (black dash) and 200 day simple moving average (red dash) remain significant resistance above the current S&P (NYSEARCA:SPY) levels.  Concurrently, there a pennant pattern building as Bulls and Bears engage in a tug-over-war over whether the next leg will be up or down.  A break above the pennant and 200 day would move me towards the bull camp, at least temporarily.  Until then, I remain of the belief that we have witnessed a hope-based rally like that in May, 2008.

     

     

    Nov 14 3:00 PM | Link | Comment!
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