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« Silicon Roundabout: London Joins the Social Mobile Web Party | Main | Political Compromise Is Not What You Think »

Sunday, December 05, 2010


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Great stuff Y:

Here is a dandy from Hussman:

"Greenspan is off his gourd"



Euro. My "low probability" count (from Nov 8) which I mentioned here before has been working so far, will it continue to? Wave e isn't supposed to break the b-d line before its done is why I called it a low probability count.


Thanks Yelnick,

I don't think we will see a Santa Rally this time around. That guy from TradeYourWayOut has been bang on the money with his calls short term and he is calling for a drop in the second half of December followed by a final rally into March 2010. Historically speaking, there usually is a rally going into the end of the year so it will be interested to see.

Account Deleted

S&P 500 Futures chart


Yelnik -
DO you think the chart of the DJIA looks like a double top forming??


Account Deleted

S&P 500 Analysis after closing bell


Joe, is a double top forming? One could easily argue it, but after the sharp rise the first few days of Dec, I expect a continued run northward to higher levels that may make the double top less clear (ie second peaks higher, above 1250). If we do have a top around 127-1250, my fractal Finance work normally sees a triple top before a trend change. So if a deeper correction comes, be ready for a final run back up.


Indeed -

Thanks Yelnik.


Obama just gave the GOP everything that it wanted and has extended the Bush Tax Cuts for EVERYONE for 2-years, plus he agrees to grant one-year of reduced Social Security taxes!



How do you know this Michael?



A tax cut extension on incomes $250,000 or less is a tax cut for EVERYONE due to the US tax system (tiered). Even million dollar earners would be taxed at the lower rate since only the income above $250,000 would be taxed at the higher rate. Plus there are currently many ways to avoid or defer income taxes. A simpler tax system would go a lot further than simply extending the Bush era tax cuts IMHO.


You don't get it.

They ALSO cut the Social Security tax (pay-roll tax) by 2% from 6.2% to 4.2% for all wage earners for one full year. This should put $120 Billion back into people's pockets!

The top rate was suppose to have been increased to roughly 39% from 35% and the taxation of dividends raised from 15% to 20%.

Not happening.
But then again, Goldman Sachs already knew about ALL of this!



PS. Businesses were also given a sweetener — next year they can write off 100 percent of new investments in capital goods, up from 50 percent this year. Taken together, these three items should spur additional spending, investment, and — it's hoped — jobs in 2011.

Wave Rust

minute 3 of 1 of (5) of P1 of Cycle 1 ,,,, if you see a bull ,,,, as a typical ugly a beginning to a very long term Ewave bool markette.

P2 could be the bear's whoopie cushion.

wave rust


... going back to April, S&P was at 1225. Counting this second recent visit to 1225 in the last few weeks, it looks something like a triple top!? What's that?

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