Apparently the perpetually bullish machine….aka…CNBC is tired of people doubting this “Amazing American Economic Recovery” over the last few years (please see the article above). That’s right. How dare are those unemployed, underemployed and out of labor pool fools (about 15% of workforce) doubt the American machine of prosperity. How dare are those drunk college kids with $1.08 Trillion debt burden question the validity of their education. How dare does anyone question this real estate recovery. After all, there is a billion of Chinese millionaires out there buying every house that they can in the deserts of Nevada and California.
Of course, we know better than that. This so called “American Economic Recovery” is an illusion at best. An illusion driven by debt, credit and speculation. An illusion were only a select few with direct access to free credit were able to benefit from the economic recovery over the last couple of years. You know, the exact same folks who are trying to tell us that the economy is doing great. Unfortunately, the rest of us were not so lucky.
Now, a lot of people are starting to concentrate on class warfare. Yet, we must understand that it is not the class issue, but rather, an economic issue that will impact us all. No economy can function, grow and excel to the best of its ability if 90-95% of the population is left behind. I am not sure why it is so hard for CNBC, our administration and the FED to understand that. Now, with my bitching done….
MARKET UPDATE:
2/18/2014 – An interesting day with the Dow Jones remaining relatively flat by losing only -23 points (-0.14%) while the Nasdaq surged higher with a sizable gain of +29 points (0.68%).
One thing we have to keep in mind is that our timing work is based on the Dow. As of right today, our forecast/trading plan presented on Saturday remains in force and in play. I continue to believe that our forecasted turning point will appear as expected. As such, our previously discussed positioning, outlined on Saturday, should remain in place.
Further, at least structurally the Dow is confirming our turning point. What I am seeing on Nasdaq somewhat confirms the thesis. I am seeing the most speculative issues appreciate in a vertical fashion, including large gaps and everything else. If this doesn’t feel like a blow off top, at least on the Nasdaq, I don’t know what does.
In summary, my work continues to show that we are close to a short-term turning point scheduled on XXXX. With that in mind, we just have to wait for the market to do its work over the next few XXXX.
CONCLUSION & POSITIONING:
(*** Please Note: About 75% of the information contained within this section has been deliberately removed. Particularly, exact dates and prices of the upcoming turning points. As well as trading forecasts associated with them. I deem such information to be too valuable to be released onto the general public. As such, this information is only available to my premium subscribers. If you are a premium subscriber please Click Here to log in. If you would be interested in becoming a subscriber and gaining access to the most accurate forecasting service available anywhere, a forecasting service that gives you exact turning points in both price and time, please Click Here to learn more. Don’t forget, we have a risk free 14-day trial).
As mentioned in my earlier forecasts, we are looking at February XXXX as a major turning point.To be exact, this particular turning point is located at…
Date: XXXX
Price: XXXX
Hence, I suggest the following positioning over the next few days/weeks to minimize the risk while positioning yourself for a forecasted market action.
If You Are A Trader: On February XXXX, we will be looking for a confirmation that the market has hit its turning point (as per above) and has reversed itself……on an hourly chart. Once such confirmation occurs, I would liquidate our……….
If No Position: XXXX
If Long: XXXX
If Short: XXXX
END OF UPDATE: —-Please Note: XXXX is available to our premium subscribers in our + Subscriber Section. It’s FREE to start.
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CNBC Writes: Stop whining! The US economy is in good shape
Based on current growth dynamics, this year promises an even better outlook for employment creation and America’s contribution to the world economy.
The most recent evidence from survey data indicates that the U.S. service sector (approximately 90 percent of the economy) continues to expand in a steady and sustained fashion. Despite recent distortions caused by bad weather, the same is true of the manufacturing industries, where the capacity utilization rate is approaching its long-term average of 80 percent.
The U.S. economy is underpinned by growing real incomes, increasing employment, record-low borrowing costs and an easing access to credit facilities as banks continue to open up their channels of consumer financing.
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CNBC To American People. STFU Already. The US Economy Is On Fire. Plus, Market Update. Google
