S&P short term cycle swings

[SyndicateTwo]

Yeah, Cramer really has been off his game lately. I get the impression he's forgot about his trading days and now is spouting off too much of his emotional feelings about things. I mean, you have to take what he says with some seriousness because the guy is worth $200 mill and did it in the market (of course, not so much trading as was from fees from his hedge fund). He's been dead right from Oct. But lately he's been a coward when it comes to calling out Obama people and their shear incompetence.

That said, regarding the market, today looks ugly. It does appear that this expected 5th wave down is starting. This 'could' take the SPX lower than that 666 low. But 741, then 720, then 700 first.

It's amazing the way everyone has completely turned on the Fed 'happy talk' from Wed. You would have thought that Bernanke solved every problem we had on Wed. But now it's nearly the complete opposite.

The trade I think is now TNA under $5 on the July $10 calls