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DOW 8800 and SPX 950 target met Intermediate volatility support, Goldman rising wedge

DOW doji, bond sell-off, higher energy price

Massive debt spending financial destruction in disguise

Jun 8, 2009
Low trading volume: In reality, 9 trillion deficit in 2009

Jun 2, 2009
Markets traded to targets: SPX 950 and DOW 8800

2009 bubble: 9 trillion deficit in 2009 adding to existing 14 trillion debt.

Market price actions can be easily manipulated using up or down grades and we have seen the real impact on the real wealth of massive Americans.

Trim Tab reports: Insiders are selling

US Economy in reality even though market price actions can be easily manipulated.

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June 12, 2009 Economic Schedule and the QW OE week:

MONDAY: NY Fed Empire State survey; Fed's Evans speaks; NAHB housing index

TUESDAY: Housing starts; PPI; industrial production; Madoff sentencing; Earnings from Best Buy, Smithfield Foods, Adobe

WEDNESDAY: Bernanke speaks; weekly mortgage applications; CPI; crude inventories; Earnings from FedEx

THURSDAY: Weekly jobless claims; leading indicators; Philly Fed index; Earnings from Research In Motion

FRIDAY: Quadruple witching

Note the Tuesday -- Madoff: it is quite sickening to see that markets are hyping based on the similar kinds of activities which those will be revealed after massive millions of Americans are again fooled into. Spending trillions debt is just the same as the Madoff swindle ponzi scam - just the same except the excuse is different stating that the spending is to stimulate economy. But we know that the spending is, in reality, a big swindle draining sheepsters' pocket to sustain the big Government spending -- specially during massive trade deficit and job exports. It is hardly believable that so many are fooled into such scheme. Great country is getting ruined by the greed ... with new drama.

June 11, 2009 DOW and GS:

Markets are overbought Markets pierced the intermediate resistances with extremely negative divergences then closed below the Rs.

HOD trading above R $COMPX 1879.92 $INDU 8877.93 $INX 956.23

Closing below the DOW 8800 and SPX 950 $COMPX 1862.37 $INDU 8770.92 $INX 944.89

Market price actions are erratic, so it is better to stay away from market gyration except for day trading. Markets are in distribution phase, so it would be irrational to chase markets at this level in overbought condition.

June 10, 2009 DOW:

Bonds have been sold off -- obviously stock markets are over-crowded. Interest rates are trading at intermediate resistances. The high rates will extremely constrain many especially those who are going through financial crisis in addition to dealing with higher energy and oil prices.

Markets could snap with some kinds of manufactured news.

June 9, 2009 US Economic reality:
Massive debt spending false hope with big smoke screen just same as all other prior financial dramas, scheme, and scams -- just getting bigger and uglier with massive manipulation now in trillions.

US Economic insanity: astronomical debt, ~ 9 trillion, spending which will further destroy majority of Americans' wealth which we have seen. Greed power destroyed massive Americans with deception which only recently be known to some.

Now facing a reality of 19%+ since 2000: re Pros Say: US Unemployment May Be Closer to 16% The Government Economic stats are manipulated and does not represent realistic facts.

After the decades of financial market manipulation using high price volatility - especially during the Greenspan era, it is quite easy to manipulate market price actions and Americans' sentiment using mass media which is owned by the same power and which controls the world economy. We can see the result of the deception as the US economy and massive Americans has fallen into the deception as financial and news media does not report accurate information and economic reality because they are controlled by the same destructive power for most of people. What is astonishing is that many are either ignoring the reality or is bought by the deception.

June 8, 2009 Low trading volume: Longs went to beach after married to stocks.
Market Summary

Markets traded up into close after trading in low volume as alerted the intraday support at 1:25pm (15419) We have markets superficially holding with massive debt spending
The massive debt spending false hope is going to be a rude awaking, and furthermore, it is unbelievable many are fallen into the false security.

John Williams of www.shadowstats.com notes that official US deficit statistics do NOT include net present value of unfunded social security OR Medicare expenses. A lot of folks have made a big deal about the US running a $1 trillion deficit this year. Well, if you included the net value of those unfunded Social Security and Medicare expenses we cleared a $1 trillion deficit in 2007, a $5 TRILLION deficit in 2008 and are on course to clear a $9 TRILLION deficit this year. To give you an idea of how big a problem these deficits are, consider that the US government could tax its citizens 100% of their earnings and NOT have a balanced budget.

Markets traded to targets and consolidate SPX 950 & DOW 8800

* Markets are consolidating after trading to the noted targets.

* Trading near at secondary resistances.

* Daily price actions are over-extended with weekly overbought.

* With the Jun 1 rally, markets are now trading well above the resistances which I noted, during the last couple of weeks, as: SPX 930 +/-, DOW 8600 +/-, Nasdaq 1770 +/-, NYA 6000 +/-; as we can see the closing prices shown on the left.

* I commented on SPX 1000 +/- target since a break above 850 on 3/26/2009. Even though I anticipated a meaningful pull back, markets have not shown a pull back as we have seen a continuation of the recent trend.

* Mid year cycle on 7/13+/-: as previously noted, a major mid year cycle date is next pivotal market juncture.

Market price actions despite the economic reality

Markets are still hyping based on the massive debt spending to lure consumers to spend on false hope of massive debt spending. Real GDP growth would be much worse as the debt spending is counted as a part of GDP calculation. Americans were misinformed and misled during the 2002-2007 economy as the GDP-economic growth was mainly based on Americans' savings, not genuine producing power. We are going through worse debt spending economy.

source: Econoday

Americans financials = future Chinese and Asians:

What many of Americans went through is what will be the same pattern of many Chinese and Asians in future. The pattern which many Americans and the United States went through is what will become as the financial markets and economic condition will be repeated as it was and it will be.

re: Soros is somewhat bullish on Chinese economy since many Chinese have personal savings which can be spent.

Financier George Soros said on Sunday that China's global influence is set to grow faster than most people expect, with its isolation from the global financial system and a heavy state role in banking aiding a relatively swift economic recovery. http://www.cnbc.com/id/31157455

$BKX - Price actions can be easily manipulated.

*Banking sectors rallied significantly than other sectors during the last 3 months since the March 6 bottom.

*$BKX rallied 26 points, 146%, since the 17.75 which alerted on the March 6 low.

*The index is consolidating in a tight range as shown on the $BKX chart with about fib 35% retracement range.

*The top 30 banks rallied 50%-300% since the low in Nov 2008 and Mar 2009.

*37 pivot

*Which fundamentals is bearish, technical analysis is showing bullish Intermediate Term market outlook.

*No violation of the recent uptrend in rising wedge formation.