Last week, the Dow popped early as indicated and sold of heavily into Friday. Clear as a bell wave threes down are unfolding.
29600 was our first target...easily hit, now our sights are on 24,000 and possibly 23,000.
The next 7-10 days are going to be extraordinary, the severity will be evident this week...the catalyst to cause capitulation could be from Europe, China or just about anything as these markets are on a knife edge.
Those last to recognise that the economy is dust are now seeing the warnings and evidence everywhere.
The Fed again ramped up rates in another too late move...they will pivot when the markets collapse and not before, perhaps 50% down when they indicate a change of policy.
We have said enough about the reckless and deliberate Fed.
Folks at the end of the cycle who borrow the most are those who lose everything. This coming ice age for the world economy will be like nothing before...a total reset.
Debts will be forgiven, but you will be owned by the state.
Those who see or front run this meltdown will be in good shape...a hurricane is coming.
The truth will be very painful to the most exposed, banks will fold worldwide to compound the humiliation. This is 2008 on steroids, few will be unscathed.
So we monitor this week or next for 24k...we will be alert to close out our shorts and hopefully during the heat moments. Remember, this coming bottom will only be temporary..a big bounce to be followed by a black hole.
We take it day by day, knowing our preparedness over many months with stocking food, essentials and PM's can see us better on the other side.
Literally, anything can happen from here onwards...some serious event is certain.
Strive for the truth no matter the distractions.
Appreciate a thumbs up...Good Trading & God Bless!
29600 was our first target...easily hit, now our sights are on 24,000 and possibly 23,000.
The next 7-10 days are going to be extraordinary, the severity will be evident this week...the catalyst to cause capitulation could be from Europe, China or just about anything as these markets are on a knife edge.
Those last to recognise that the economy is dust are now seeing the warnings and evidence everywhere.
The Fed again ramped up rates in another too late move...they will pivot when the markets collapse and not before, perhaps 50% down when they indicate a change of policy.
We have said enough about the reckless and deliberate Fed.
Folks at the end of the cycle who borrow the most are those who lose everything. This coming ice age for the world economy will be like nothing before...a total reset.
Debts will be forgiven, but you will be owned by the state.
Those who see or front run this meltdown will be in good shape...a hurricane is coming.
The truth will be very painful to the most exposed, banks will fold worldwide to compound the humiliation. This is 2008 on steroids, few will be unscathed.
So we monitor this week or next for 24k...we will be alert to close out our shorts and hopefully during the heat moments. Remember, this coming bottom will only be temporary..a big bounce to be followed by a black hole.
We take it day by day, knowing our preparedness over many months with stocking food, essentials and PM's can see us better on the other side.
Literally, anything can happen from here onwards...some serious event is certain.
Strive for the truth no matter the distractions.
Appreciate a thumbs up...Good Trading & God Bless!
Waterfall risk is high today into early next week.
Stay short for capitulation move.