By John Galt October 14, 2011 – 09:20 ET It’s backkkkkkk………….. Will we get a reversal today? Not necessarily, but the hanging man I was looking for last week just may have appeared today. The markets will try one more desperate attempt at 1220 on the S&P 500 cash and as you can see in the chart below, the hanging man is clear as day: If a reversal begins with the highest volume of the week, odds are we will see another long candle to…
By John Galt October 13, 2011 – 05:25 ET (click to enlarge/reduce) The chart above is simple enough. The market rallied towards the 1220 resistance area on the S&P 500 yesterday, failed on low volume, and in the last hour sold off on heavy volume while selling into the close. This morning futures are mildly negative as of this posting but were positive overnight until Europe opened indicating that there is great dissatisfaction with the proposals put forth thus far as the European Central Bank’s…
By John Galt October 12, 2011 – 05:30 ET The rally monkeys have their backs against the wall after yesterday’s epic failure to breach the 1200 mark so today is do or die time. I would not be shocked to see the PPT pull out all the stops to attempt a squeeze move against the shorts remaining in the financial stocks and European sectors as this truly is a desperation period between now and Friday. Futures are up this morning but the rubber meets the…
By John Galt October 10, 2011 – 18:45 ET Do what? Yup, the NYSE website is still up. The Operation Anonymous crew did not crash the NYSE but the OTHER Operation Anonymous, aka, the Plunger Protection Team, succeeded. Here is all the proof you need that the Federal Reserve and its minions won the day in a futile effort to prevent a total collapse and purchased at least 5-7 days, at most, on taxpayer dollars: Trust me. This isn’t the superball superbull break out….…
By John Galt October 10, 2011 – 13:25 ET So the Euro has soared up to 1.36 on rumors of another deal better than the 2010 deal which cured everything? Smells link bunk to me. So the DJIA, NASDAQ, and S&P 500 have finally crossed the 50 DMA because of the Merkozy accord… Bunk. Look at the volume. So Greece is cured? Uh, Bunk: And what one stock is validating my theory that this is a bunkomania bankster desperation rally? If it smells like bunkomania,…
By John Galt October 10, 2011 – 12:00 ET I’m learning to hate the internet or at least Comcast. We get a little rain here in Florida, I lose the internet for 16 hours. It’s back now and that’s the good news. And here’s the video that should provide some insight into what is happening despite the bizarro land markets we are in the midst of today.
If I’m going Art Bell on you, you know it is going to be bad. At least ABBA music is good however… More on the Sunday night Occupy Bathroom recap.
By John Galt October 7, 2011 – 05:30 ET With Europe temporarily off of the front pages, that leaves their banksters alone to commit Eurocide and allow the markets to focus on the U.S. non-farm payrolls report. As the S&P 500 slammed into a short term resistance area around 1164-1165 yesterday, I figure a spike towards the 1180ish 50 DMA might occur if the NFP shocks everyone or provide the markets an excuse to take profits and resume selling should the number disappoint. The consensus…
By John Galt October 6, 2011 – 05:30 ET Welcome to the No Freaking Logic market today as the action in the U.S. markets defies logic and common sense with moves on light volume that should have completed the downward thrust with low volume exhaustion but instead reversed on the Bubblevision Rumor de Jour and now look to advance again towards the 50 DMA. Internally the markets look like a mess, technically they are still broken an in a bear cave below the 200 DMA,…
By John Galt October 5, 2011 – 07:50 ET If I were a betting man, wait a second I am one, I would wager we see a weak rally this morning at some point during the early session on weak volume. Then as the afternoon grinds on we begin to drift lower finishing slightly above yesterday’s close leaving a damning “Hanging Man” pattern for the markets to digest (See Investopedia explanation at this link). This would be a perfect mirror to parallel the disaster of…
By John Galt October 4, 2011 – 05:25 ET (Chart via INO.com) Technically speaking the U.S. equity markets are due for a bounce even as the European and Asian markets continue to implode. The news that the Franco-Belgian bank Dexia is in trouble and possibly facing a break up due to their faltering portfolio and the fact that the Euro continues to collapse versus the dollar could possibly provide further downside action today but I think the Plunger Protection Team intervenes and causes a brief,…
By John Galt October 3, 2011 – 23:25 ET Thanks to an email jostling my memory, I dug up the old videos I posted on YouTube and sure enough, even though my timing as usual is not “perfect” I predicted the events in our equity markets that we have witnessed since Labor Day. The bloodbath is just starting however and I’ll post a new video up tomorrow to outline why I think the S&P 700 prediction from the other gentleman might just be conservative. ALL…
By John Galt October 3, 2011 – 15:20 ET Just look at the arrows. No further comment is necessary as this isn’t even a capitulation move….. Snapshot from the Wall Street Journal Market Data page:
By John Galt October 3, 2011 – 15:05 ET With the markets teetering and kissing the 1101 area once today, I thought it might be prudent to put the storm warning flags out, as I see them, for the stock markets in the weeks to come: 1. A close for two days plus below 1094 is a signal for another 5-15% decline within 5 days. 2. IF the markets close below 1094, rally, fail then close below that level and follow up with a move…
By John Galt October 3, 2011 – 13:25 ET I don’t think this is the way the bulls wanted to start the 4th quarter. As it sits now the S&P 500 as of this posting is down 20.23 to 1111.19 below the interim support level of 1120 and now putting the 1101 intra-day support into play. The chart does not lie about how severe this breakdown is this afternoon: With rumors of AMR facing possible bankruptcy and halted again after a 30% decline, Morgan Stanley…
By John Galt September 30, 2011 – 05:15 ET Ugh. On Tuesday’s radio show I outlined how the coming stock market crash will drastically impact the U.S. and world economies and the severity of what October’s nightmare might mean to the average citizen in the U.S. Needless to say, I did not paint a picture of unicorns flying overhead spewing rainbows and Skittles out of their rears. The stock markets are now technically set up for a 25-35% decline in October, most of which I…
By John Galt September 22, 2011 – 21:30 ET Ah yes, who can forget that Jib-Jab video I created back in 2009 with the dancing Bernanke: Well, old Ben just danced America and the West into a major recession to validate his theories and seize more power for the banksters this week. The move in the markets today was brutal, sharp, but not terminal. The headlines from some of the mainstream financial media reflect that fact: Bloomberg 9/22: Stocks Fall But Investor Panic Could Soon…
By John Galt September 22, 2011 – 04:45 ET As of this posting DJIA futures are -156: I don’t want to say that’s ugly but…. The question becomes are we building for a Black Friday, Black Monday, or just a total wipeout for the remainder of the month. Time will tell but the USD and Gold are signaling the warning signs of a major deflationary episode about to impact the world’s markets and despite the protestations of the Bubblevisions, a break below 1094 on the…
By John Galt September 12, 2011 – 09:30 ET Panic in Europe? Check. Malaise in America? Check. Incompetent central banksters in both regions of the world? Check. Short selling bans in Euroland? Check….(BRILLIANT!) All we need now is a catalyst like a major U.S. or French bank going Tango Uniform and we’ll be set up for a nice crashette. Except this time 2008 will be remembered as the “good old days”….. U.S. markets are down on the open but only slightly with light volume. Watch…
By John Galt September 12, 2011 – 02:10 ET Uh, this morning could get brutal….let the beatings commence… Just wow. This is getting ugly or I need to consume more cigars and adult beverages…. FTSE, DAX and CAC Seen Sharply Lower on Greek Debt Fears Published: Monday, 12 Sep 2011 | 1:54 AM ET FTSE -74 DAX -76 CAC -46 European stocks are expected to fall sharply at the market open on Monday amid renewed fears about the euro zone debt crisis. ian stocks traded…
By John Galt September 6, 2011 – 09:00 ET Even the SNB intervention could not save the markets from the laws of gravity as the initial bump from fixing the Swiss Franc to the Euro has faded. This is best demonstrated with the German stock market as the DAX has rolled from a positive day to a negative move into our open: This will not end well. The Italian markets also rolled over sharply blowing through the psychologically important 14,000 level and heading for long…
By John Galt August 22, 2011 – 08:55 ET Yup, it would appear the rumors of QE∞ and the removal of the whacky Colonel from power in Libya will be enough to power the markets higher today. Expect thin volume all week until GS receives the leak as to if there will be another round of Bernanke money bombs dropped on the economy. Remember to watch the one stock that the Fed loves to flaunt in your face, Goldman Sachs, to see what happens. 109-110…
By John Galt August 18, 2011 – 16:45 ET Repeat after me: Gold is a barbaric but profitable relic. Gold is a barbaric but profitable relic. Gold is a barbaric but profitable relic. Gold is a barbaric but profitable relic. Of course buy and hold in a “gasp” inflationary environment does work if it is gold and not stocks. Here is the performance of COMEX gold versus the S&P 500 over the last 5 years (chart via WSJ/BigCharts.com): I’m not a graduate of M.I.T. but…
By John Galt August 17, 2011 – 13:30 ET Ruh-roh, quick call Cramer, call Altucher, call Biryini, call an idiot savant, save our 401K’s. Or just learn how to read a chart. OMG, it could be an EPIC one if we drop below 1190 or will the Fed bail out the Canadian sponsored OBAMAMBUS tour?
By John Galt August 12, 2011 – 09:40 ET While the Bubblevisions and bulls promote the “don’t worry be happy” mantra as short selling has been banned in several European countries, there is a smiling bear in the background looking to pounce. Do not get too addicted to the verbal idiocy barrage being launched that the American economy is immune from the problems in Europe and our economy will continue to expand and grow as the recovery moves forward. This afternoon, if hedge funds get…
By John Galt August 11, 2011 – 08:11 The futures were skyrocketing overnight with the S&P up well over 15 points early this morning in Asian trading then comes this story from Reuters at 7:54 a.m. ET: Exclusive: One bank in Asia cuts, others review credit The key portion of the story: The head of treasury risk management for Asia at one bank in Singapore — which has a significant presence across the region — said their credit lines to large French banks had been…
By John Galt August 10, 2011 – 15:40 ET 1119 better hold or this week could get ugly as Friday approaches. I’m just sayin’….
By John Galt August 5, 2011 It would appear so. Once again, follow Satan’s lead: If GS rolls over, which it is at this posting, it is game over for the week and quite possibly a weekend of meetings at the FRBNY (Federal Reserve Bank of NY).
By John Galt August 5, 2011 If that chart isn’t the definition of insanity, I do not know what is. And it is not just in the United States. With just under 2 hours to go, all I can say is grab an intern, a cigar, and a Scotch for the end of this ride. Just wow.
By John Galt August 3, 2011 If Satan’s Spawn continues to bounce and rally above 133.00 to 133.50 then the broader market will probably follow. So follow Beelzebub’s baby and watch the market fun: However…. If it breaks below 131, then 130, we’re going downtown and hard…..
By John Galt August 3, 2011 10:23 ET Uh-Oh….just blew through 1249, now at 1246. Is this the day of massive capitulation or? First chart is static snapshot from Bloomberg.com:
By John Galt August 3, 2011 I’ll let you read the insanity at the link below and decide for yourself. The statements inside the article and the headline at the top of the page on CNBC validate the cause of those who say drugs should remain illegal because there is no other explanation for nutty postulations like the one presented in this article. The author “could” be correct if the Federal Reserve declares that every molecule inside the United States is a candidate for monetization…
by John Galt August 1, 2011 Just a quick noon time observation but the 200 day moving average on the S&P 500 is now history and below 1254 there is nothing but gravity and air. Could this be the long stalled panic sell off or do we bounce off of this year’s lows? Press your “PANIC” key now to get the Bernanke out there buying all the crappola to save our nation from uh, itself.
By John Galt August 1, 2011 Uh, so much for the Dow futures being up 180 last night….. Oops. Maybe the S&P 500 is roaring ahead to recoveryland: Oopsie again. MAYBE the NASDAQ and APPLEMANIA will save the day! Hmmmm…them damned TeaPartiers are sabotaging America once again. Maybe the dollar is surging against the Yen because after all, we’re just attempting to emulate them: Okay, can’t blame the Tea Party for this…let’s see if it is we can blame the Swiss: That pretty much sums…
By John Galt July 8, 2011 Uh, sell? Wow, I butchered that prediction but see what happens Mr. President when I try to follow the herd and read into the consensus that you’re BLS is going to fabricate a happy-happy joy-joy number? Only 18,000 net non-farm jobs added but I did nail the unemployment rate of 9.2% per the report from the BLS this morning. Look at the pretty red candlestick on the S&P futures: So much for the ADP report having a clue, once…
By John Galt July 5, 2011 On June 25, 2008, the Federal Reserve Open Market Committee released the following statement after their meeting (Bold emphasis added by me): The Federal Open Market Committee decided today to keep its target for the federal funds rate at 2 percent. Recent information indicates that overall economic activity continues to expand, partly reflecting some firming in household spending. However, labor markets have softened further and financial markets remain under considerable stress. Tight credit conditions, the ongoing housing contraction,…
By John Galt June 23, 2011 Without a doubt,today’s stock market was an EPIC BAIL. They kissed the 200 DMA on the S&P 500, stick saved it and brought it back from the brink. Look for a surge towards 1300 and over 12,200 on the Dow as they re-balance the Russell 2000 tomorrow and the shorts continue to cover. All the powers that be want to do is save the markets for earnings season but on tonight’s show, I think my prediction might shock…
By John Galt June 6, 2011 Enjoy the video and remember that history may not repeat itself but often times it can be far, far, far worse the second time around.
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