Thursday, January 7, 2010
2 missing links in the tech picture are the NASD Comp index which I pointed out earlier but more importantly the VIX both need to reach the final top respectively final low before a severe correction will start. In case of the VIX it will not only be a correction within an up-move that follows - rather we move towards the final lows of this bear leg within a bigger count. The Comp only needs one weekly higher close above the recent one to complete the sequence. The VIX needs 2 lower weekly closes may be 3 ( unlikely ) to finish the sequence and we will see a huge rise in Vol thereafter over the next months. The weird thing remains the depth of government manipulation of markets in an never seen magnitude and they are playing with fire as at some point they could face hugh losses on their books as they already do have on the fixed income side of the FED book. This is a even more evil Ponzi scheme of the Obama admin and rather criminal as they conspired with some banks and have violated not only the constitution but capitalism as a free market is dead by all means and the consequences will be devastating once it becomes public.
Posted by getagrip at 9:22 AM