Dynomo Tricks Bears Warning

I am a bit cheeky to post this, but I think the bears are in trouble this week as it is FOMC week.

Check out the chart below and follow along! LOL

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Listen To Martin Armstrong

Listen To Martin Armstrong

 Driving in my car, I was listening to an audio, that really scared the heck out of me. 

He was talking about BEN BERNANKE and what a minion boy he is, we all know he is just taking orders from those at the top right?

Martin Armstrong make some pretty wild predictions in his day, and many people laugh at him. However I am not one to laugh and scoff. WHY? Well, Everybody laughed at him when he said the Berlin Wall was coming down in less than 90 days and IT DID. He Also called for the breakup of the Soviet Union as soon as the Wall came down. they laughed at that as well, but IT ALSO HAPPENED!

What is he prediction this time? : Well, it may shock you to the core, however he is saying - The next Fed Chairman will be the LAST Fed Chairman...he has been pretty good about some of those types of calls. 

Correct me If I am wrong, but it sure looks like we have some historical times coming. 


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1700 finally came

Well we finally hit our 1700 target. YEY! It has been a fun couple of months.  So now we wait to see what Mr. Market has in store for us next.

We rallied from 1550 all the way up to the 1700 and we have not see a nice rally like this for some time. This was an amazing run. We must wait to see what happens after FOMC week and the employment data on friday. It has been a long drawn out week, and I am ready for a stiff drink. LOL.

My guess is that this has been such an extensive rally, we could go higher, but something tells me the market is ready to take a break soon. Time will tell.

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The T Bomb - Taper time

It’s a very busy week for economic data. Investors will get their first look at second-quarter gross domestic product on Wednesday. Economists surveyed by MarketWatch forecast the data to show the economy grew at an annualized rate of just 1% after a mediocre 1.8% expansion in the first three months of the year.

Investors are closely watching the Fed for any further clues as to when it may begin tapering its purchases of government bonds. Concerns over a slower pace of stimulus was tied to a pullback by stocks last month, though equities soon recovered to see the S&P and Dow head back to record territory.

May I take a moment and remind you want happened last month back in JUNE when we had the FOMC meeting.

So..... do you remember what happened???.....

THIS!....

fed announcement sell off

Since then the FED has done nothing, no tapering, no withdrawal of stimulus, no shouting, just more B.S.  We have skidded up higher, and I find it uncanny the market is acting the way it is right before this major announcement. This might be a bear trap in the making as traders are starting to think about what happened last time. It could be a situation of ROPE IN THE BEARS, Before sending us up higher. Sneaeky!, but I can see that happening. It would be a good way to take money off the novice traders out there.

My guess (and it is a guess) is that nothing changes, Somehow the charts do not look like they are about to drop like they did back in JUNE. So my guess is that the news is coming out in charts first here, yes, no taper has started and they will not drop the T Bomb word just yet. It may however come into their vocabulary later down the track, but for now the market is in a holding pattern.  We shall see.

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Bernanke Makes His Move

The Dow Jones Right now is coiling, I believe before higher prices coming. This looks like a horizontal (bullish) flag.

For Exact levels and targets...  CLICK HERE

dow jones chart

The minutes of the fed meeting was issued today. 

 The Federal Reserve’s proposed timetable for tapering its $85 billion-a-month bond-buying program is not set in stone, Chairman Ben Bernanke said on Wednesday in fairly dovish prepared remarks to a Congressional panel.

“I emphasize that, because our asset purchases depend on economic and financial developments, they are by no means on a preset course,” Bernanke said in remarks prepared for delivery to the House Financial Services Committee.

I can some all this bullshit up in 1 clear sentence. ARE .....YOU......READY!?

If Q2 GDP comes in below 1% as some good economists are predicting , there's no chance he cuts the money off.

There I SAID IT. LOL. Pretty simple really.

But what I think does not matter, because I am just a small voice who owns a small little blog out there somewhere in cyberspace.

It will be interesting to see what happens, because if you think the economy is getting better, and we are seeing a recovery, well, you may need to stop taking that heavy dose of Prozac.


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The Air Down There!

How is the air down there? Well I must say that the S&P did have a great start to the day, but then trust Ben Bernanke to come through and wreck that. The man got up shaking, his lips quivered, and we all know he was lying through his teeth, but this moron caused the S&P to sell off and wipe out its globex gains by the close. LOL. So a nothing nothing day really!

Looking at the chart, we have still broken the rising channel, and we seem to be forming a small consolidation pattern down there. Is this just a bear trap where we trap traders short and then shoot higher to the moon? or is this a bearish flag (a pattern that normally precedes lower prices) like some traders are seeing.

This market requires a bit of patience, but my thoughts are that even though we have broken the upwards channel the market is still holding its head above water for now. A break below the smaller line on the chart = bearish! But if the buyers take charge and take us back into that bigger rising channel, that will be very very bullish. But for now, we just need to be patience and wait. 

USD

Here we are on the USD. We have been talking about it being all about the dollar recently. The QE3 program is not good for the USD, but no matter what the news brings we must keep watching the charts. Right now the USD is at a make or break area. It is touching the falling resistance line that goes all the way back to JULY 2012. This is a very important area and the next few days are also important as a break will be bad for the US indicies, but hitting this line and then seeing bears come back will actually be very bullish for the indicies. But it is all about the USD right, so we need to be patient and watch as the week is young. :-D

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