Although it looks like there is a breakout, there is not actually much space available to climb.
At best SP500 could climb 40pts in the next 4 weeks (2%).
If a failure occurs which i believe is likely, SPX could actually fall 200pts (10%).
Note: the config is very similar to july 2007... the market had rallied 18weeks and climbed 15%... plateauing for many weeks and pretending to breakout for 1 week or 2 before it fell 10% .... a repeat would not surprise me.
I I think it will fall. I want it to fall. let's see.
Live by the FED, die by the FED. There is a reason the TRUE patriots tried to abolish central banks from the beginning.... how soon STUPIDITY of the education system doesn't teach ethics, principals... it teaches how to be an automaton... F.A. Hayek simply said it best, to paraphrase, "the education system is designed to develop people that will serve the needs of the government."
The next big show to drop will be the Auto loans... just like in 2007 when we gave houses away at ZERO DOWN!!! BUY BUY BUY... we are doing the same with autos... 84 month, 96 month loans... these people will be giving up their cars left and right when the doody hits the fan.