EXCELLENT POST and I've been saying the same thing on other boards. As a result I've been called a 'conspiracy nut' and my posts have been labeled 'rubbish' by chartists who live and breathe charts and charts only. These TA guys actually think this is still a free market operating on supply and demand even though I provide links and evidence that it is increasingly becoming a managed, 'rigged' market. How many times have we heard some rumor that technocrats are meeting to 'solve' the Europe crisis and the market then reverses and goes up 100 pts like a bottle rocket? I remember one rumor that China would step in and bail out Greece. Ha!
It's tough to figure out what will happen next because the whole thing floats on an ever-shifting sea of inside trading, trillions in derivatives, angry populaces losing jobs and threatened with austerity, natural and man-made disasters, QE or no QE, high-speed computers, collusion...on and on. This is what the chart morons always dismiss. When their chart predicts a movement correctly, then it reinforces their conviction that the chart is an all-seeing oracle. If something happens and their charts didn't predict it, they re-pencil in support lines and artifacts to prove their chart was right all along. If anyone calls them on it they get all defensive and derisive.
My point is it is very difficult to predict the direction of the markets when so much rigging is going on. The markets SHOULD go down big time in the face of massive deflation due to our debt money system. It SHOULD go down considering the huge debt and deficits, the on-going wars we can't afford and the new wars the globalists are planning. It SHOULD go down when all the baby boomers are cashing in en masse while young workers can't afford stocks because they're too busy paying off college debt. It SHOULD go down considering the massive unemployment figures which are always pared down to the lowest number by a government determined to paint everything in the best light possible.
The can kickers will keep kicking and propping up these markets until they can't any more. I can't say when that will occur and no chart is going to help.
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