SP Futures Daily Chart and the Triumph of the Swill
Courtesy of Jesse’s Americain Cafe
It looks like the bulls want to take this squeeze up to the 1105 trendline, with six bull days under their belt since the tag on the lower trend line last week.
This rally is being accomplished on thin volumes, thick liquidity, and weak regulations dominated by trading programs, with obviously fabricated and highly overstated fundamental underpinnings.
As Lloyd Blankfein would characterize it, the Wall Street banks are just "doing God’s own work," or at least the work of some power and principality with a favorable inclination to greed, pride, and deception, if these masters of the universe were to acknowledge any power greater than themselves.
No doubt there are some good intentions in the government behind a desire to manage the markets higher. After all, a rising stock market is a sign of wealth and prosperity to the superficial elite based on their own personal portfolios. Especially if they ignore all the jobless, homeless, and suffering people being victimized in their highly exclusive empire of the ego.
But who can stop a people determined to be rich without productive labor, with a self-obsession capable of subordinating even heaven to their personal greed and vanity? This will end in an ocean of tears.
The banks must be restrained, and the financial system reformed, and balance restored to the economy, before there can be any sustained recovery.
