by John Galt
June 10, 2012 23:40 ET
Hey, remember this guy?
Who could ever forget that awesome prediction. Along with the Dow 20K guy, of course.
Someday soon, with the Bernank’s help, they might be right.
But for practical purposes, let’s review the upcoming Spanglish rally created by the FedECBJCBPRAYFORAMIRACLEOHGODWEAREALLGOINGTODIE bank of the world.
The S&P 500 has some serious headwinds as Herr Obummer likes to call them:
A break through the 1360ish area with major volume could mean the computers want a super strong pro-Obama election season. Or not, depending on the unemployment picture…
Meanwhile over in Spain, the land that Germany never invaded yet defeated in financial combat this past weekend:
Yup. That’s toast.
Moving on to the short term bounce in the Euro now via the FXE ETF:
That’s not a healthy chart. Then again the central banksters are clever buggers so they could break the 50 DMA, but don’t hold your breath for much above 1.2850 as when the rally fails, the rip your face off becomes rip your privates off portion of trading.
Over in the area of real money ville…..Gold looks good but not good enough YET:
Silver is following a parallel course, of course:
The final translation? This is not a market for the weak of heart. Bullcrap will be flung into the trader’s faces and windshields like love bugs hitting cars at 70 mph in Central Florida in May. Have your bug spray, sanity, and strategies for hard times intact as this crisis is just now getting cranked up.
As is the stupidity and actions of the world’s economic morons, aka, the central banksters….