This market has no room for an impulse drop. the window has just about closed. Seems another month is needed. Perhaps more data on the economy and PPI/CPI next month. The PPT would near allow such a drop till past New Year celebration. the lagging CPI against the surging PPI makes no sense in the long run. there will be catch up. I suspect we get shocked starting January.
All i have to do is look at the Tulip stock, Bitcoin, and see only strong support levels and a resistance to test that support.
Holiday cheer and drink up. We managed to destroy completely all branches of government as the so called checks and balances have been tossed aside as easily as our laws. Imagine 4 Supreme Court judges taking up the argument that states can discard the will of the people in federal elections. Trump had the unfortunate timing problem. had he waited he would be deemed king today.
And yet the world continue to revolve around its axis and around the sun. We treat these earth shattering political events with a yawn. As long as the White Christian Man stands tall we worry about nothing. The 40 year cycle of disinflation is dead. Seems it might take a while to realize we are walking zombies.
We just hit by a hair the 7th wave up on this wedge pattern on SPX that started 20 days ago. It hit a wall so far but nothing dramatic on the downside. TILL we break below 3900 on a closing basis we are still in the Bulls stampede.
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