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Mister-r-r-r-r-r Andersen.....

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September 15, 2011 – Comments (0) | RELATED TICKERS: SPY

Time for me to stop raging against the machine and join them.  Trend following isn't about looking at the news and fundamentals like the sun and saying that it isn't there.  Because The Powers That Be will NOT allow markets to fall unless it would benefit themselves in one way or another.  And right now, it's about getting reelected next November.  Do you seriously think that something as inane as an unspoken depression and global commodity inflation will stop U.S. markets from being higher in October of 2012?

Keep taking your blue pills and follow the trend until it doesn't work.  That's what I have forgotten as I shorted this morning and held throughout the day.  I will give it one more day before the pain becomes too unbearable.

Short-term S&P 500 below. Notice the bear trap that pilfered cash from those who played on what everyone and their grandmother could see.

Here's the Chart

S&P 500 over 5 years below. Interesting how we retraced from the 2007 highs back to 61.8% Fibonacci level, then down two levels to 38.2%, back up three steps, back down two steps.. Notice a pattern?  Next step above 61.8% is 100%.  That's where the machines want to take us, either by October 2012 or 2013.  If we fail to break that downward, orange trendline, then we could be looking at the right shoulder of a you-know-what.

 Here's the chart.

Either way, I'm getting more and more bullish for the immediate term.

 

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