Team Fraud Mount Athos Fades the EMU ~ The Risk Averse Alert

Wednesday, December 28, 2011

Team Fraud Mount Athos Fades the EMU

There is a point-of-view supposing calamity the British Treasury is reported to be bracing against instead is an end the City of London is proclaiming its interests intend to bring about...

Reports like this are all the more interesting in light of prospect that, MF Global could be a harbinger for a fast-developing run on the global banking system.

It appears year end circumstance is setting up for a tough New Year, indeed. Even in the face of a near-term rising trend, too, does the market subtly confirm this an ominous underlying consensus...

SPX 5-min

At no time following last Tuesday's CME goose did the very short measure of the S&P 500's relative strength extend into such a positive extreme as it sunk to today. Just how contrived and inconsequential is buying support appears plainly exposed by a tailspin like today's falling on the weight of a feather (a.k.a. "holiday volume").

Still, per the possibility of five waves up since last Tuesday, today's dive could be part in forming the fourth of these, at least as seen via the S&P 500. Broader measures like NYSE and NASDAQ composite indexes are not so convincingly confirming this view, however. Both were relatively weaker today. NASDAQ's recovery since last Tuesday appears particularly strained. Although a different Elliott wave count applies here, NASDAQ's conspicuous weakness of late focuses in the cross hairs those handful of issues that, over the past few years principally have kept NASDAQ's Composite Index levitated above 1000. Stands to reason the speculative darlings should begin cracking, as an increasingly turbulent backdrop risks ending all fantasy that credit to infinity and beyond will forever grease the wheels of commerce no matter a banking system seized by the rusted gears of Ponzi finance...

Fast Money
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