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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
  • S&P And Nasdaq Rejected At Longer Term Resistance 0 comments
    Oct 10, 2012 3:27 PM | about stocks: SPY, QQQ

    Here is a look at the longer term resistance that the S&P is facing, as I see it.

    (click to enlarge)

    The resistance is even clearer on the Nasdaq.

    (click to enlarge)

    Perhaps even more troubling for the QQQ chart is that critical support on its rising wedge pattern will soon be at hand.

    Disclosure: I am short QQQ.

    Additional disclosure: I also own SPY puts.

    Stocks: SPY, QQQ
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