I’ll be away this morning; this short update is written on the evening of the 26th…
The market action earlier today (26th) moved all of the major indices above their upper Bollinger Bands. The Transports and the SPX broke out to new closing highs, confirming the uptrend. The XLF, however, is still weak, and the VIX barely moved down after producing a market sell signal yesterday. Conflicting signals to me are a sign of a phony market – one driven not by fundamentals, but instead driven by money printing and manipulation (you can’t argue the manipulation as buying bonds is manipulating equities).
Durable Goods and the worthless MBA Purchase Applications report will come in the morning prior to the bell – hopefully someone will post those in the daily thread, if not I will when I return.
The FOMC announcement comes earlier than usual with the new format – 12:30 Eastern instead of 2:15. This is a SICK game that the “Fed” plays with the markets, lip service that is in fact nothing but psychological manipulation by those who stole the power to produce this nation’s money. They have created a completely impossible math situation, and nothing that Bernanke utters will change that… especially more lip service in the form of a post FOMC news conference. It’s kind of like having your torturer whisper sweet nothings in your ear right before they dunk your head under water for the hundredth time! Gee, thanks…
Raise your hand if you think Bernanke is going to say something stupid! What a ridiculous game, I feel like we should all be pounding out our flour on the nearest flat rock…
Standard & Poor’s tonight downgraded Japan from stable to watch “negative,” just like the U.S.. The truth, of course is that the impossible math of Japan is far further progressed than here and Standard & Poor’s is anything but in front of the situation. Yes, their conflicted business model is a large part of the situation in which we find ourselves (Japan Debt Outlook Cut to Negative by S&P on Reconstruction).
More and more evidence points to our own assessments about the Fukushima nuclear plants being far more accurate than the official story line. Now they are finally admitting leaks in 3 of the reactors, they are admitting that the number 4 fuel pool is leaking, and now experts are considering the possibility that the number 3 explosion wasn’t just hydrogen, but that it also had a nuclear impetus that spread the number 3 fuel pool fuel all over the planet…
Gundersen Postulates Unit 3 Explosion May Have Been Prompt Criticality in Fuel Pool
Again, to me we have a deadly serious situation in which a corporate special interest has been stonewalling the public. Not only that, the captured governments of Japan and the United States have failed to act in humanity’s best interest. At least I can give the Soviet Union far superior grades from that standpoint for the way that they quickly produced an all-out effort to contain the radiation of Chernobyl. Looking at both incidents now in hindsight, it is clear to me that the Russians lacked this special interest capture and thus the government was able to act. Sure would be nice to learn this lesson, it’s the same lesson we should have learned following the BP oil spill.
Have a great morning, carry on my wayward sons, and enjoy the “Fed” lip flappin’!