Who remembers the reflationary headfake at the end of 2008? I do. Of course even that con job was more real than the Jedi Mind Trick for serial-conned dunces we have today. Following the deflationary trend-line, we see how dull this geriatric Idiocracy has become over the past decade. How else could they believe that Donny is their saviour?
Replacing the stock/bond ratio with Wells Fargo , gives us October 2008
The heart of the third wave down at all degrees of trend. Which lines up with our wave count below.
But first, I've been five days without Zerohedge, thank you. Detoxed of man-boy bullshit, I'm a new man. I may relapse at any time, but for now I'm supplementing with National Enquirer. Sadly, my artistic ability to produce drunken rants seems to have taken a hit. I know you're disappointed. But you're only thinking of yourself. And anyways we all know that my rage is uncontrollable...
Following a week of back and forth rallies to nowhere, I figured I would give one more signpost for where things stand at this juncture. Going back three weeks now, the casino peaked, broke the trend-line and then went back and forth to nowhere for a week. Bueller?
Daneric marked that week waves '1' and '2'. And of course the following week all hell broke loose. This week, Skynet has been defending the tax cut Maginot Line at all costs, and yet still managed to close lower than the key reversal registered last Friday:
Now you say, what other evidence can I provide that may indicate a similar fate meets this week's backing and filling. After all, bulltards are anticipating the next leg higher.
What led the upside this week was oil. Which is what led the back and forth three weeks ago:
Europe held its a-b-c island gap higher all week, apparently waiting for something to happen...
Bond yields and $USDJPY have finally agreed that fake reflation is fake...
The crash ratio ended this week at a new cycle low extreme as gamblers crowded into Amazon:
For the week to nowhere, there was more than meets the closed eye...
