front month gold futz

1550ish being tested on a longer term basis and also shorter term with the bulls trying to cling to a triple bottom scenario. I'd consider it astonishing if 1550 manages to hold much longer...

I'm playing for 125 to 130ish GLD in the coming days and weeks

Logarithmic GLD weekly basis going back a decade...

Crude oil one of many flags/wedges building out there

With correlations at 1:1  there are lots of flags and wedges coiling up out there, from international stock indexes to commodities. Two commodities most important to politicians and central bankers being gold and oil look pretty ugly technically speaking...

Japan 225 wedge..

so apparently the 225 wanted to add another hump in the building coil.  I'd be more worried about them jamming it up hard and fast to the upside if the wedge was leaning with lower lows but this one is building pressure to blow to the down side.. or so I'm thinking..

Looks like they are setting up a smash and grab in gold

/ES is building a nice triangle/flag right on that 1300ish support while gold is struggling to hold the 1550.  This leads me to believe they will take /ES down hard just to run the stops below 1550 in gold and when she breaks it could be pretty massive. I have no doubt that the CB's will accumulate on the collapse in price.. or so I'm thinking.

Did the Japan 225 just shit the bed ?

Depends on whether this flag/wedge has any predictive value I guess...

Lowering my target on UGA.

Based on the idea that GLD, SLV, SPY broke out above the longer term channel and now must collapse down violoently. the UGA channel (drawn be ignoring the upper channel break) is calling for 45 to 46ish.
That's plenty of room for all assets to collapse much further.  I think I'll take all positions off and look to nibble long when that area is tested...

Copper telling you what time it is...

I suspect copper will lead the way back down to op twist lows...

1550ish Gold broken 4 times..

a feel a flush down in gold on deck as we've tested 1550ish 4 times now.  I'm thinking 100+ dollar type moves for a wide swinging bottoming move in the coming days and weeks.  I want to see 1300ish before I add... but this is just my opinion of course...

110ish SPY outlook

I'm guessing 110ish SPY is the downside target before the next world wide print fest....of course do not follow me.  These are my personal thougths put to paper (blog)

Back to the basics in Silver..

There's nothing bullish about Silver... just yet.   I'm still looking for all assets (including equities) to take at least one more nose dive...

NASDAQ vs. XLF

On two other recent occasions the NASDAQ has jumped the gun (or is it nervous short covering) leading the way higher.  Turns out it was the XLF that was the more accurate gauge of where we were heading short term. Today it looks like XLF is suggesting maybe lets not get to excited just yet....

SPY via RSI signal

I wouldn't be surprised at all to see the Dec 2011 lows taken out on this current down turn and in fact RSI (9 day) signal is calling for it. The chart below is distorted (RSI indicator dragged with mouse higher with the time frame stretched wider) This gives the appearance that May 2011 and May 2012 highs are too far apart to be related enough to each other to be all one RSI signal.  I'm playing it as if they are both very much relevant to the RSI sell signal weekly basis...

GLD and SLV action today..

I don't trust the pop in GLD and SLV today on the supposed fed front running. I would have expected moves in energy, copper the crb or even stocks but nothing.  If anything today's pop was a set up. I would not be surprised to see all of it come off by the morning along with the excuse the CFTC needs to jack margins sky high as a result of these wild swings. I believe we are near the bottom but may need one more deep shake out...

Very dangerous pattern tracing out in SLV...

SLV appears to be building a parabolic arc pattern to the downside which often ends in a complete flush type wipe out. I'd expect multi dollar swings in SLV on massive volume before it's all over with the potential to buy cheap into the panic selling....

re-convergence is coming..

Looks like 1250ish  SPX on deck bitchezz!!!  and don't forget to sell me your gold down around 1300ish

IYR vs. JCP post 08 crash

Ever since the Bernank has instituted his printing campaigns JCP has uncannily signaled market down drafts in IYR.  The current divergence is larger then what we saw just before the HFT flash smash...

potential for a hard core wipe out

The level of complacency despite the recent down draft in stocks is stark.  VIXY is not suggesting the market is anywhere near bottoming yet...

Odd how down side resistance areas in UUP (dollar) trace out (line in the sand) limit areas (red boxes) just before longer term dollar ramp fests and hard asset destruction zones occur...or so it seems.

I wonder..

If we are tracing out a giant head and shoulders pattern in a larger cycle (black line) then should we expect the right shoulder to be much more volatile as the last desperate attempts at Empire saving plays itself out? If so I might expect SPY to look something like this....

GLD / JJC / XAU / IYR

Taking a longer term view of all those sectors most effected by bankster money printing it becomes obvious that they have a lot more printing to do judging by the response in IYR (real estate etf) In the mean time in the shorter term their efforts to mitigate inflation seem to be working when one looks at JJC (copper etf) and XAU (gold mining stock etf) I also see the potential for GLD to crash? (if your of a short term view) though all in the context of a much longer term bull market.  I'm hopefull that there will be an opportunity to add to gold positions down around 1300ish spot.....

CRBQ vs. SPX

Having a look at the amount of HFT fluff  out there in equities suggests a good 150+ SPX points need to be flushed out at some point. I expect when it occurs the pm's will be hammered.