Markets are trading near at major S/R pivots, and many are now again turning into bearish, e.g. EW W3 downside forecast. As noted, I don't see a confirmation which we will see a correction of this maddened market even after 50%-300% driven up markets. As shown on the SPX daily chart -- % rally, a shallow retrace of 4%-9% followed by another short-squeeze push-up, it is premature to scream a pull back as Bernanke can continue to manipulate markets to upside.
The market price actions acting on TA caused many traders burnt because many TA didn't work well, e.g. retest of the March low, negative divergences, normal fib retracement, etc. Until TA and price pattern shows some confidence that markets will correct, it is a significant risk to assume the W3 bearish scenario as markets were pushing up based on short-squeeze for months. Considering the following factors, Bernanke can do anything with markets. Therefore, Keep in Mind of MOASS in this lunatic market.
How Bernanke and bankers took trillions out of Americans and Treasury.
* propaganda using mass media - e.g. his appearance on the 60 Min
* accounting method change using congress, FASB, and AICPA
* bail out and TARP
* selling Treasury debt
* baiting and fueling short-squeeze
* using hundreds of the Fed/big bank traders driving up or down markets -- probably, but likely -- based on market trade data analysis and traders showing their hands on newsletter, financial board sentiment, and trade execution information.
http://trend-signals.blogspot.com/2009/10/wire-tappp-in-fraud-case-deal-that-lost.html
What else is new for the fraudulent FED and its owners as the fraudulent operation was going on for decades... ~
- “The guy’s a giant, he’s a genius, he is a great human being,” said Austan D. Goolsbee, counselor to Mr. Obama since their Chicago days. “Whenever he has advice, the administration is very interested.”
- Well, not lately. The aging Mr. Volcker (he is 82) has some advice, deeply felt. He has been offering it in speeches and Congressional testimony, and repeating it to those around the president, most of them young enough to be his children.
Bernanke lunacy of financial market manipulation after the Greenspan madness of tech and housing bubble/burst manipulation -- using mass media propaganda to sway sheepsters.
# Housing Market Has Bottomed, Banking Analyst Bove Says
"I really believe that the industry has bottomed, that we're not going to see further crashes in home prices or in home sales," banking analyst Dick Bove told CNBC.
* Mortgage Applications Drop
* Markets Harder to Please: Strategists
# Galleon Preparing to Unwind its Hedge Fund Holdings
* Wells Fargo Beats as Profit Up; Shares Fall as Bad Loans Jump http://www.cnbc.com/
Wells Fargo said shareholder profit rose 60 percent in the third quarter as mortgage banking revenue surged.
o Plan Your Earnings Season
o Earnings Surprises: Meet, Beat or Miss
* Morgan Stanley Profit Falls, but Tops Forecasts
* Boeing Posts Loss on Charges From 747, 787 Tests
* Housing Market Has Bottomed: Dick Bove
* Lilly Profit Tops Street View; Raises Year Outlook
* Watchdog Official Criticizes Handling of TARP
o Core TARP Programs Ending: Geithner
* Mortgage Applications Drop Again as Rates Climb
* No Tightening in Next Several Months: Fed's Yellen
* Bank of England Calls for Splitting Banks' Business
o Slideshow: The World's Safest Banks
* GE, Comcast Keep Options Open Amid NBC Deal Talk
* Madoff Investors Sue KPMG and Major Banks
* Buffett: 'Enormous' Economic Progress Over Last Year
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