“Relax don’t do it
When you want to want to go to it.” Relax, Frankie Goes To Hollywood
“A fire broke out backstage in a theatre. The clown came out to warn the public; they thought it was a joke and applauded. He repeated it; the acclaim was even greater. I think that’s just how the world will come to an end: to general applause from wits who believe it’s a joke.”
― Soren Kierkegaard
I know. The Hand always steps in to save the day. Like Mighty Mouse.
Except it didn’t or couldn’t do so after 1929 when the U.S. was civilized.
Maybe that was the plan: for those in the loop to profit off the crash and buy at penny’s on the dollar.
Be that as it may, I assure you Nature is more powerful that the Working Group.
While 96 years ago ( 12 X 8) the U.S. was the greatest creditor country on the planet.
The opposite is true now.
Then, the dollar was good as gold. Not so anymore.
Violence runs rampant through the streets of America today. Joblessness is on the rise thanks to AI.
I don’t buy that AI is just the automobile replacing the “buggy whips”.
What will happen in a great down turn in markets?
I think there is a greater likelihood we’re being transitioned into a Technofeudalist society.
China’s already digitized their society.
How is it possible England looks like this and their leaders condone this?
https://x.com/ArchRose90/status/1989422818694705622
How is it possible California’s corrupt, inept politicians allowed Malibu and Pacific Palisades to become Hiroshima?
More than 100 fire trucks sitting waiting for repair.
Broken hydrants.
Empty reservoirs when Californian’s passed a Proposition for a $7.5 billion water bond to fund water storage projects.
And these people still have their cushy jobs while thousands of people lost their homes?
Without accountability democracy is the hand maiden to chaos.
While the authorities called back firefighters from a fire one week earlier that continued to burn roots underground and erupted again when the winds kicked up.
I don’t know jack about fires, but I know that you don’t call back the troops before Mother Nature is about to unleash powerful winds. Something known before the fact.
And the average annual salary for a Fire Chief in Los Angeles is around $400,000.
The salary of the CEO of the Dept of Water and Power is $750,000.
That’s what got us empty hydrants.
My point is the market is fraught with cross collateralized counter-party risk. It’s just another facet of the corrupt prism we call the system that is supposed to be about
Price Discovery.
I guess the market’s been doing some discovering in November.
The news breaks with the cycles. And we are getting seeing a nasty convergence of long and intermediate term cycles at the most overbought market in history.
1929 was 96 years ago.
On the Sq of 9 Wheel, 96 is opposite December 21st.
Many of you will remember that the last Jupiter/Saturn conjunction was December 21, 2020 and how running that Gann Time Factor backwards and forwards 90 degree decrements gave you big turning points.
For example, 270 degrees before Dec 21, 2020 was the Covid Crash low on March 23, 2020.
Amazing.
This December 21st is 1800 (360 X 5) degrees from Dec 21, 2020. An opposition.
It is also 7 weeks from the Oct 29 SPX all-time high, assuming we make lower highs into late December that opens the door to the Gann Panic Window being thrown open to the great wide beyond.
The next Super Cycle Top finds the world in a sea of debt in a civilization that is unhinged, a sunken society mirroring the once great utopian world of Atlantis.
Of course THAT was the great crash.
Plato said it occurred in 9600 BCE.
Maybe Plato was off the reservation.
But his was the original Wall of Worry—the Allegory of the Cave, a philosophical tale about prisoners chained in a cave since birth who can only see shadows projected on a wall.
They believe these shadows are reality as it’s the only world they know.
When one prisoner is freed, they discover the world outside the cave and realize the shadows were just illusion., It is the age-old story of the path from ignorance to knowledge.
At the end of a bull market bulls realize that the Wall of Worry that speculators have been climbing is just an illusion, an explanation for the unexplainable.
“Any explanation is better than none.” Friedrich Nietzsche’s First Principle.
People for the most part prefer quick, simple explanations that are alleviating and resolve anxiety.
But this often leads them to adopt false truths.
Nietzsche’s statement that “All thing are subject to interpretation—“ Whichever interpretation prevails at a given time is a function of power and not truth” sounds like it could have come right out of the brain of Jesse Livermore.
So it seems The Hand pulled a lever after Friday’s Rug Pull.
Just like a week ago Friday.
The Hand twitches when the SPX flirts with its 50 day line.
Old wives tale?
Well the SPX has not seen a close below its 50 DMA since it was recaptured on May 1st.
Think there’s been an agenda?
The Hand had to work overtime on October 10 to rescue the baby.
Ditto the last two Friday’s when the SPX swooned below its 50 day line but recovered to close above it.
We got another ‘draw to an inside straight’ upside reversal on Friday.
This is going to be interesting because the rally off the Nov 7 plunge perpetuated a turn up on the SPX 3 Day Chart.
Fridays’ drop satisfied a Minus One/Plus Two BUY SIGNAL because the index had carved out two consecutive lower daily lows.
It will be extremely important to see if the SPX can produce 3 consecutive higher daily highs from this juncture, turning the 3 Day Chart back up.
That essentially IS the pattern from 1929.
A multi-day rally from what looked like a clear-cut breakdown saw an illusion of the past glory of the 1929 summer run for the roses. When the 3 Day Chart turned back up in mid-October it led to a roll-over.
When the prior pivot low was taken out so were the bulls—horizontally.
IF we get breakage below Friday’s low and a close below the 50 DMA over coming days or a week,
Get Out Of Dodge. No clowning.
In sum, don’t underestimate Bitcoin’s correlation to the Q’s.
Hit and Run has been shorting every bounce in IBIT since flagging a Megaphone Top in Bitcoin at 28.000 in early October.
540 degrees down is 70.000.
720 degrees down is 54000.
Both square out with mid-December.
Notice on the above daily Bitcoin that it broke the bottom rail of a Trend Channel, backtested it and accelerated lower.
Next technical support is 85 to 87,000 which is the bottom rail of the purple trend channel.
Breakage below 85,000 opens the door to 70,000.
Failure below 70,000 opens the door to 54,000.
Importantly, these squares reflect the same levels as the chart support, magnifying their significance.
It looks like the Bitcoin Bros that believed Bitcoin would prove itself over gold are getting it in the shorts.
As tech glamours get sold, owners of Bitcoin are taking off risk.
Tall Tales From the Crypt.
Speaking of which, The Emperor, NVDA, reports Wednesday.
It is THE largest percent holding in SPY and QQQ.
Friday NVDA rebounded of the bottom of a trend channel, but it has its work cut out for it.
The top rail of the trend channel ties to the 200 region where NVDA’s false breakout became a Chip Wreck.
NVA ha a string of distribution days since its Gilligan Sell signal on the OCTOBER 29 top day.
It has ONE turn up on its dailies since the high day.
Today it could easily turn up its dailies again in the region of the overhead 20 DMA.