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

I put my prediction all on the line with saying that the 2012 stock market high was achieved today or will be achieved in today's trading. It is downhill from now on in 2012. Soon, the HARD downturn will be in full effect.

Category:

News & Politics

Tags:

• s&P 500
• stocks
• market
• prediction
• turning point
• gold

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

[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.

[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

[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.

[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.

[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.

[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.

[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.