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Daily Stock Market Update & Forecast – November 22nd, 2017

– State of the Market Address:

  • The Dow remains well above 23,000.
  • Shiller’s Adjusted S&P P/E ratio is now at 31.51 Now at arguably the highest level in history (if we adjust for 2000 distortions) and still above 1929 top of 29.55.
  • Weekly RSI at 78 – overbought. Daily RSI is at 61- neutral.
  • Prior years corrections terminated at around 200 day moving average. Located at around 18,300 today (on weekly).
  • Weekly Stochastics at 92 – overbought. Daily at 73 – neutral.
  • NYSE McClellan Oscillator is at +3. Neutral.
  • Volatility measures VIX/VXX remains at suppressed levels. Commercial VIX long interest declined slightly to 75K contracts net long. 
  • Last week’s CTO Reports suggest that commercials (smart money) are shifting their positioning back to net short. Short interest has shifted slightly lower during the week. For now, the Dow is 7X, the S&P is at 2X net short, Russell 2000 is now at 5.5X net short and the Nasdaq is net neutral.

In summary: For the time being and long-term, the market remains in a clear bull trend. Yet, a number of longer-term indicators suggest the market might experience a substantial correction ahead.  Plus, the “smart money” is positioning for some sort of a sell-off.

If you would like to find out exactly what happens next based on our Timing and Mathematical work, please Click Here. 


ATTENTION!!! Please note, we have moved most of our free editorial content to our new website MarketSpartans.com Please Click Here to view it.


Ron Paul Asks: Why Are We Helping Saudi Arabia Destroy Yemen?

Something we have been wondering ourselves. 

by Ron Paul:

It’s remarkable that whenever you read an article about Yemen in the mainstream media, the central role of Saudi Arabia and the United States in the tragedy is glossed over or completely ignored. A recent Washington Post article purporting to tell us “how things got so bad” explains to us that, “it’s a complicated story” involving “warring regional superpowers, terrorism, oil, and an impending climate catastrophe.”

No, Washington Post, it’s simpler than that. The tragedy in Yemen is the result of foreign military intervention in the internal affairs of that country. It started with the “Arab Spring” which had all the fingerprints of State Department meddling, and it escalated with 2015’s unprovoked Saudi attack on the country to re-install Riyadh’s preferred leader. Thousands of innocent civilians have been killed and millions more are at risk as starvation and cholera rage.

We are told that US foreign policy should reflect American values. So how can Washington support Saudi Arabia – a tyrannical state with one of the worst human rights record on earth – as it commits by what any measure is a genocide against the Yemeni people? The UN undersecretary-general for humanitarian affairs warned just last week that Yemen faces “the largest famine the world has seen for many decades with millions of victims.” The Red Cross has just estimated that a million people are vulnerable in the cholera epidemic that rages through Yemen.

And why is there a cholera epidemic? Because the Saudi government – with US support – has blocked every port of entry to prevent critical medicine from reaching suffering Yemenis. This is not a war. It is cruel murder.

The United States is backing Saudi aggression against Yemen by cooperating in every way with the Saudi military. Targeting, intelligence, weapons sales, and more. The US is a partner in Saudi Arabia’s Yemen crimes.

Does holding hands with Saudi Arabia as it slaughters Yemeni children really reflect American values? Is anyone even paying attention?

The claim that we are fighting al-Qaeda in Yemen and thus our involvement is covered under the post-9/11 authorization for the use of force is without merit. In fact it has been reported numerous times in the mainstream media that US intervention on behalf of the Saudis in Yemen is actually a boost to al-Qaeda in the country. Al-Qaeda is at war with the Houthis who had taken control of much of the country because the Houthis practice a form of Shi’a Islam they claim is tied to Iran. We are fighting on the same side as al-Qaeda in Yemen.

Adding insult to injury, the US Congress can’t be bothered to even question how we got so involved in a war that has nothing to do with us. A few conscientious Members of Congress got together recently to introduce a special motion under the 1973 War Powers Act that would have required a vote on our continued military involvement in the Yemen genocide. The leadership of both parties joined together to destroy this attempt to at least get a vote on US aggression against Yemen. As it turns out, the only Members to vote against this shamefully gutted resolution were the original Members who introduced it. This is bipartisanship at its worst.

US involvement in Saudi Arabia’s crimes against Yemen is a national disgrace. That the mainstream media fails to accurately cover this genocide is shameful. Let us join our voices now to demand that our US Representatives end US involvement in Yemen immediately!

Daily Stock Market Update & Forecast – November 21st, 2017 – Elliott Wave Edition

ELLIOTT WAVE UPDATE:

Since many people have asked, I will attempt to give you my interpretation of Elliott Wave and how it is playing out in the market. First, I must admit. I don’t claim to be an EW expert, but I hope my “standard” interpretation is of help.

Let’s take a look at the most likely recent count on the S&P.

Explanation:

Long-Term: It appears the S&P is quickly approaching the termination point of its (5) wave up off of 2009 bottom. If true,we should see a massive sell-off later this year. Did it already complete? Click Here

Short-Term: It appears the S&P might have completed its intermediary wave 3 and now 4. It appears the market is now pushing higher to complete wave 5 of (5). If true, the above count should terminate the bull market. Did it already complete? Click Here

If you would like to find out exactly what happens next based on our Timing and Mathematical work, please Click Here. 


ATTENTION!!! Please note, we have moved most of our free editorial content to our new website MarketSpartans.com Please Click Here to view it.

Bitcoin Investors Expect To See $10,000 By 2019 – We Ask, Why Not Next Tuesday

As I technician I don’t recall seeing a chart similar to the chart above that did not subsequently correct or collapse in a stunning fashion. Let’s review the latest on the cryptocurrency…..

Bitcoin passed $8,000 as institutional money inches closer to cryptocurrency markets

One indicator is the increasing popularity of bitcoin futures. Over the weekend, the first year-long contract for the price of bitcoin was agreed by traders on the LedgerX platform, an issuer of derivatives regulated in the US. The contract is an option to buy bitcoin at $10,000 by Dec. 28, 2018.

Great. More leverage and speculation is being added into the mix. What can possibly go wrong.

The Currency Of The Apocalypse’? Doomsday Preppers Flock To Bitcoin As It Surges Past $8000

“Not too long ago, people in the prepper community were actively warning against crypto, and now they’re all investing in it,” said Tom Martin, a truck driver from Washington who runs a social-media website for people interested in learning skills to survive disaster. “As long as the grid stays up, people will keep using bitcoin.”

As Forest Gump used to say “Stupid is as stupid does”. You would figure the last place these Doomsday Preppers would want to invest in is Bitcoin. It is hard to imagine that the grid would stay up and the value of Bitcoin doesn’t go to zero in case of an EMP on Nuclear strike. Good luck exchanging your digital coins for carrots then.

Jim Rogers says bitcoin ‘looks and smells’ like all other investment bubbles

Bitcoin has performed amazingly well, so it’s tempting to buy. Don’t bother, says Rogers. “It looks and smells like all the bubbles I have seen throughout history.” True, bubbly assets can continue to march higher than any rational person imagines possible. So there could be further gains. But messing around with bubbles is risky. Better to just stay away. “I have missed it, whatever it is,” Rogers says.

Mr.Rogers is dead on, about “whatever it is”.  We continue to maintain that Bitcoin has no real value. Yes, we are aware of all the arguments for and against it, yet the currency is only worth what the next person is willing to pay for it. Or in this case, what the next fool is willing to pay for it.

And while this insanity might go on for a few more years, history will not be kind to Bitcoin and its investors. 

Daily Stock Market Update & Forecast – November 20th, 2017

– State of the Market Address:

  • The Dow remains well above 23,000.
  • Shiller’s Adjusted S&P P/E ratio is now at 31.51 Now at arguably the highest level in history (if we adjust for 2000 distortions) and still above 1929 top of 29.55.
  • Weekly RSI at 77 – overbought. Daily RSI is at 59- neutral.
  • Prior years corrections terminated at around 200 day moving average. Located at around 18,300 today (on weekly).
  • Weekly Stochastics at 90 – overbought. Daily at 48 – neutral.
  • NYSE McClellan Oscillator is at +3. Neutral.
  • Volatility measures VIX/VXX remains at suppressed levels. Commercial VIX long interest declined slightly to 75K contracts net long. 
  • Last week’s CTO Reports suggest that commercials (smart money) are shifting their positioning back to net short. Short interest has shifted slightly lower during the week. For now, the Dow is 7X, the S&P is at 2X net short, Russell 2000 is now at 5.5X net short and the Nasdaq is net neutral.

In summary: For the time being and long-term, the market remains in a clear bull trend. Yet, a number of longer-term indicators suggest the market might experience a substantial correction ahead.  Plus, the “smart money” is positioning for some sort of a sell-off.

If you would like to find out exactly what happens next based on our Timing and Mathematical work, please Click Here. 


ATTENTION!!! Please note, we have moved most of our free editorial content to our new website MarketSpartans.com Please Click Here to view it.


Weekly Stock Market Update & Forecast – November 17th, 2017

– State of the Market Address:

  • The Dow remains well above 23,000.
  • Shiller’s Adjusted S&P P/E ratio is now at 31.51 Now at arguably the highest level in history (if we adjust for 2000 distortions) and still above 1929 top of 29.55.
  • Weekly RSI at 76 – overbought. Daily RSI is at 55- neutral.
  • Prior years corrections terminated at around 200 day moving average. Located at around 18,300 today (on weekly).
  • Weekly Stochastics at 93 – overbought. Daily at 33 – neutral.
  • NYSE McClellan Oscillator is at -7. Neutral.
  • Volatility measures VIX/VXX remains at suppressed levels. Commercial VIX long interest declined slightly to 75K contracts net long. 
  • Last week’s CTO Reports suggest that commercials (smart money) are shifting their positioning back to net short. Short interest has shifted slightly lower during the week. For now, the Dow is 7X, the S&P is at 2X net short, Russell 2000 is now at 5.5X net short and the Nasdaq is net neutral.

In summary: For the time being and long-term, the market remains in a clear bull trend. Yet, a number of longer-term indicators suggest the market might experience a substantial correction ahead.  Plus, the “smart money” is positioning for some sort of a sell-off.

If you would like to find out exactly what happens next based on our Timing and Mathematical work, please Click Here. 


ATTENTION!!! Please note, we have moved most of our free editorial content to our new website MarketSpartans.com Please Click Here to view it.


ELLIOTT WAVE UPDATE:

Since many people have asked, I will attempt to give you my interpretation of Elliott Wave and how it is playing out in the market. First, I must admit. I don’t claim to be an EW expert, but I hope my “standard” interpretation is of help.

Let’s take a look at the most likely recent count on the S&P.

Explanation:

Long-Term: It appears the S&P is quickly approaching the termination point of its (5) wave up off of 2009 bottom. If true,we should see a massive sell-off later this year. Did it already complete? Click Here

Short-Term: It appears the S&P might have completed its intermediary wave 3 and now 4. It appears the market is now pushing higher to complete wave 5 of (5). If true, the above count should terminate the bull market. Did it already complete? Click Here

If you would like to find out exactly what happens next based on our Timing and Mathematical work, please Click Here. 


ATTENTION!!! Please note, we have moved most of our free editorial content to our new website MarketSpartans.com Please Click Here to view it.