Like a Timex, it takes a licking but keeps on ticking...
Given a 50-day moving average in the proximity of 1190, as well as there having been support registered in the same area during last month's advance, this week's 6% loss through yesterday appears set to see follow-through like that indicated above. Technical repair revealed in relative strength's recovery since yesterday's throttling prepares the market for further selling whose effect should register a relative strength divergence, thus setting up for a subsequent bounce.
Of course, there are other possibilities over hours ahead. Yet the crucial point remains that, the EMU is dead.
Here is an important piece of intelligence you can take to the bank: yesterday's dismissal of the entire military command in Greece — an unprecedented action ... downplayed — is a sure sign the feces are about to hit the fan.
"The annual military parade in the northern city of Thessaloniki is one of the most symbolic events in Greece's political calendar, honoring its fight against fascism in World War II, and it was the first time it had been canceled."
Now, what rising element might have caused this to happen? Hmmm, eurofascist, what's that you say? The gutting of institutions serving sovereign affairs eventually is to destroy everything from police departments up to and including commanders-in-chief? Brilliant! Now, bring in the ECB and give the Greeks incompetence beyond compare! Please. This sideshow might be very amusing to some, but the goal is chaos. This simply is how fascists operate.
And what say ye our fascist-in-chief? Not a thing. Perfectly on board. Tyranny's tool. Despicable.
Do you want to see the brains and balls to think and speak like an American patriot? Then read my comment thread to an article written by Rep. Charles Rangel (D-NY15) titled, "Still Mad As Hell," appearing yesterday on HuffPost. There are five comments in all. The first lays the groundwork which, of course, lit a fuse. By the fifth we should pray a fast-growing, fertile seed was planted deep inside the "Occupy" crowd.
If you appreciate the hurdle the United States faces in overcoming its present bankruptcy, such as in the framework of interest we share here (i.e. finance and investing) I recently laid out in "Hamilton v. Jefferson Meets a Misguided Ron Paul," then consider my farm work at HuffPost a worthy flank toward the goal of quickly and irrevocably surmounting today's barriers, and restoring transparency, financial health and economic promise to a nation that, right now, is on the brink of a ruin whose coverup is fast becoming impossible.
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