Stock Market High - NOW! This IS the turning point.

[mainesprocket63]

Rich take a look at the Baltic Dry Index ($BDI) it is approaching the lows from 2008/2009. I think >$4.00 gas this summer in lieu of waning demand should do the trick. I like how each company coming out with earnings meets or beats Wall Street expectations even though their revenue continues to fall each quarter. Thanks for the video. Dave.

[MrThriveAndSurvive]

@mainesprocket63 I took a look. It looks just as bad as post Lehman (like 4 months after), and just think, we haven't even had the next event yet (A Euro shut-down or default but not called default of course.

[je99na2]

Rich....Great commentary, I really appreciate your insight and solid perspective..

[MrThriveAndSurvive]

@je99na2 Thanks - now it is a matter of time. Yesterday pushed everything to the ultimate max with a "throw-over" move.This market does NOT want t give it up. But it will...

[MrThriveAndSurvive]

@je99na2 Thank you for commenting. I like to know that pepole are getting some good out of this. Much appreciated.

[gibbo675]

FTSE here in Britain is up also.

[MrThriveAndSurvive]

@gibbo675 I think they will move together however I will need to pay attention to the international markets this weekend. I'll tell you what I see on the FTSE (I beleive it is just as ugly as ours will be if memory serves).

[gibbo675]

@MrThriveAndSurvive I agree there is a definite correlation between the US and the UK. The differences in exchange rates between the pound and the dollar are a relative side show compared with the fundamentals of government spending, especially war spending, housing bubbles/debt levels etc.

[Mr99RICH99]

I disagree and im telling you that the market will maintain the 11,00-12,000 range for quite some time to come ! mark my words but who am i ?

[SuperOtisb]

Thanks Rich.

[MrThriveAndSurvive]

@SuperOtisb My pleasure.

[hollys493]

Hi Rich-I applaud you for all you do on you tube! We need to step up to the plate and let all know what is happening. Most people have blinders on and their mind set is I don't want to hear it! This is more for your last couple of videos. Keep up the good work.

hollys493

[MrThriveAndSurvive]

@hollys493 I appreciate that. I feel like I'm now shifting more to sold Geo-political and political outlooks & perspectives as this is starting to come into focus as rights are being raped. Therefore, the Liberty movmt. is rapidly becoming more important w/every passing legislation that's created. Like I said, this might not what people want but I see it as impertinent for surviving the future. The amount of freedom is a major factor in many things to consider. I will attempt to point this out.

[62636263c]

I am going to call you the Bull,lol, and not because you are bullish on the market. For what it's worth I am with you on this Rich.

[MrThriveAndSurvive]

@62636263c Thanks man - that market continues t push everything to the max. The current break of the up-trending slope lines looks like a typical "throw-over move (which of course allows for a little more upside), possibly 1230 on S&P will be the top according to one pro. Then watch out below.

[62636263c]

@MrThriveAndSurvive Yep, we are in top territory no doubt. I put in a small Put position on the DIA. Not a lot, but we know a little Put can go a long way on that first leg down pretty quick. After we get some confirmation I'll put on more. Thx much.

[kcrone1]

Rich, you got guts for making this call!!

[MrThriveAndSurvive]

@kcrone1 Yes, maybe too many guts. My "gut" said give it one-two days. but if it started then it would have looked easy. Yesterday's throw-over move out of the patter is perfect for an extra day(s) delay. This market doesn't want to give up the ghost. But it will!

[kcrone1]

I sure hope you're right Rich, I totally pulled my 401K and put it into a money market account waiting for this "big" sell off that since has never happened.

[MrThriveAndSurvive]

@kcrone1 I've now checked with several other Elliott wave people (way more pro than me) and they agree with my count and outcome. One believes this week is the top. The other allows for another week and 1230 top in S&P. All the others are not as specific but do say when this top is put-i, and soon, a big downfall will arrive.

[kcrone1]

@MrThriveAndSurvive Rich so your bearish on the markets but becoming bullish on the metals? So you clearly think that the markets and commodity prices will seperate from each other? So far it seems like they've been walking hand and hand, and when the markets are down so are the metals.

[MrThriveAndSurvive]

@kcrone1 Not exactly. Silver looks like it is bullish short term to me. Gold is still bearish from my viewpoint but not by Alf Fields viewpoint and others as well. I am in a minority there for now.

[sapiensproeliator]

@MrThriveAndSurvive i agree and look how today it is penetrating $31. the 50dayMA is showing support and the low prices r takin the 200dayMA down, i think that will b very positive to offer support in its uptrend in the future

[lizadfuel]

If the dollar takes a rest a corrects a little, Could the stock market see higher prices?

[MrThriveAndSurvive]

@lizadfuel Yes, however, I see the dollar now resting on support. It just mneeds a littlel push to really geththe dollar's 3rd. wave moving again. it has been a strong wave so far as expected. The next 5 days in the dollar will mean a lot. I can tell you I jumped out of a very profitable short Euro trade when I saw the sentiment #'s had a record of shorts on the Euro EVER. That is all I need to see. I closed my positions immediately. It paid off as a rally has occurred. I'm out of that for now.

[Tanarus20]

I believe that request for 1.2 Trillion was passed today. Should glue things together long enough till theres no more money to borrow.

[MrThriveAndSurvive]

@Tanarus20 In reality, a negative bill was passed to ""kill" the increase already agreed to for this period. The senate will probably reverse that or be closer in the vote. Obama will then Veto it (amazing - he knows how to veto something) and it will go back to congress where 3/4 majority will not be enough to override the veto - presto - the debt ceiling is then increased and the politicians can say "I voted against it". You gotta love politics in the 21st. century - the no integrity type.

[chop98]

@MrThriveAndSurvive Do you know that Obama can pass any piece of legislation he wants to and CONgress can do nothing about it? Under Emergency War Powers, he can do anything he likes and CONgress MUST abide by this. As you know, we stay under a "state of emergency" according to Deceit Central. This is what gives them their power over us to do the things they do. I'd be glad to send you something, but it requires an outside email addie. It's 37 pages long.

[MrThriveAndSurvive]

@chop98 Yes he can-Executive order. For way too long (Since Lincoln in the Civil war suspending right to speedy trial or being held indefinitely.(think GUITMO and the terrorists) . Now,all he has to use is the words "terrorist" or enemy combatant" & he is good as gold with the law. This is a problem from a weak congress which is not curtailing this power & the Judicial system which goes along with it instead of making it something voted upon. The media plays its part too-not making it a story.

[chop98]

@MrThriveAndSurvive Not many people know that. :) Good on you! It was originally set up this way though... along with CONgress. That's what I wanted you to see in that little paper. Maps it all out. It's a set up for the corporation.

[martialarm]

I hope you are right as I am a little stretched right now but can take the pain. Check out Natural Gas and Orange Juice for a wild ride. Definitely the bears are few and far between right now. So a big push down looks good.

[MrThriveAndSurvive]

@martialarm Nat gas is an amazing story. I hear there may not even be enough room to store all that this coming to market. Part of the problem is that, at least in the NE, oil heat is still a large portion of the heating solution. Here isn't the SW, no oil at all - all Nat. gas - but it is warm here! Go figure. Electric heat pumps are probably #2 - coal plants and Nukes.

[torkjoy1]

I have been waiting for the right time to short the financials. I hope you are right

[MrThriveAndSurvive]

@torkjoy1 Please always do your own research and seek professional callers. I AM not a professional. I do it mostly as a contest against myself and am not paid for this advice and I don't trade well enough to bet on me - even by me. Although the little trades I do now are mostly positive. I do tend to wait until set-ups look fantastic. Also , I generally don't look at the financial sector in particular. They have been beat-up for a while which means I'd expect very bearish sentiment. (cont)

[MrThriveAndSurvive]

@MrThriveAndSurvive If that sentiment is correct, you run out of sellers, then yoyu get a short squeeze and a good pop north. I'm not saying that will happen at all, it is just something I'd check into if I were you. For example, in the S&P, there is a stretched sentiment number which is highly bullish and has been for 4-6 weeks. History indicates this happens only near market "tops". Along with the Elliott wave count, both indicate this long up turn (waive (B) is seeing its last days right now.

[yhird]

Rich thanks for the prediction. I'm playing the Devil's Advocate here and I apologize for the simplicity of my following question. In light of the 14.5 billion Euro bond payment due on March 20th for Greece, and the ongoing difficulties they're having coming to an agreement with some of the hedge funds holding Greek bonds, wouldn't a Greek default be bullish for the equity markets in the very short term until they (equities) finally figure out the crap is about to hit the fan?

[MrThriveAndSurvive]

@yhird A good prognostication. I would think its possible. I think more likely would be a bond market rally as they protect for a big drop. Now,with that said, the US long term bond market is forming a nice double head & shoulders pattern which means,that neckline breaks, there wil lbe a dive out of bonds for the first time really in 30 years. Interesting things are lining up everywhere is the best ting I can say for all these markets. They are all at the apex of major moves. Popcorn/watch time.