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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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  • S&P set up for a sell-off?

    I'm not really a day-trader, but in looking at the 10 day intra-day chart at day's end, I couldn't help but notice what looks like a pretty bearish setup going into tomorrow.  Forgetting for a second the long term support and resistance, the S&P has rallied back to a line of resistance that can be drawn from the very recent highs, and coming off the bottom three days ago, a rising wedge appears to be in place.  I've been in the bear camp for months now, so maybe I'm just seeing that one side of it...

     

    Nov 03 4:17 PM | Link | Comment!
  • Lead indicators pointing to upside?

    As I see it, the S&P is coming up on a jumble of possible resistance in the not too distant future.

     But some of the typical "lead" indicators are behaving quite bullishly.  Copper has burst higher, and with it, FCX has broken from a clear downtrend (pending some confirmation).

     

    Emerging markets have also broken out of their pronounced recent downtrend.

    And high yield bonds are happier (NYSEARCA:JNK):

    While there remains plenty of risk in the market, and I still remain in the longer term bear camp, these indicators are suggesting that this rally may have some legs.  Time will tell whether these clues are misleading, but it's certainly worth noting.

     
    Oct 24 11:40 AM | Link | Comment!
  • S&P and Euro near cycle top?

    The S&P daily McClellan Oscillator is at levels that have often indicated tops in recent years:

     

    The Euro is also hitting former support, that it is likely now resistance:

    Oct 13 10:04 AM | Link | Comment!
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