The End Is Near

The end of the month, the end of the quarter, the end of the first half of the year. Tomorrow is the day. Meanwhile, the S&P continues to etch out a head and shoulders pattern...

As does the DOW...

The Nasdaq is doing its own thing, but with a little more upside we could be discussing a double top here...

Click on Chart to Enlarge

As the volume continues to diminish amid what has now become blatantly obvious manipulation to everyone (even CNBC today), I'd be lying if I said I hadn't become a little dissuaded with the current environment. I'm taking many less swing trades and sizing positions much smaller. Without question, I'm more confident than ever that the bottom is going to completely fall out of this "free" market and it's going to be one horribly ugly mess. The time frame on that has become abundantly clear... it will tank when the powers that be are ready to allow it. Ask any long term reader here, you'll find I'm not one to make predictions and usually just follow the market trends, patterns, and internals. However, it's getting more and more difficult to chart and blog about these topics without expressing an awareness of how all of this technical analysis doesn't mean squat if markets are not allowed to move freely based on simple supply and demand. In the meantime, we have to trade the market we're given or sit it out.

Don't get me wrong. There is still money to be made. The safest way to play right now is day trading the breakouts and breakdowns, while being fully in cash by the end of the day. From yesterday's list...