Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
zerohedge.com / From Robin Landry of Raymond James / 02/12/2016 16:15
Since the last update the market has fallen to test the 1810 area as seen on the attached chart. The news and various indicators I use are getting more bearish. The world is drowning in debt and the central banks are showing themselves to be powerless to turn the economies of their respective countries around. Now they are moving to negative interest rates which only confirms my view of the world being in a DEFLATIONARY trend that has years to go. The talk of doing away with currency and moving to a digital currency is also showing the desperation. I believe a digital currency is coming much sooner that most people realize. The count shown in the attached chart is the one which gives a little larger view of where I believe the market is headed over the next few months if the top is already in. The rally happening, as I write this, is mainly due to the rally in oil. If the market is to make a new high, as I have suggested in earlier updates, this rally must break through the resistance in the S&P 500 around the 1950 area on increasing volume. If it fails, then the decline will drop to the 1740 area which I have repeatedly said MUST HOLD or the markets are in a MAJOR BEAR MARKET that will test the lows reached in 2009.
A Chief Investment Strategist that I have great respect for has always said that people don’t care whether things are good or bad but ARE THEY GETTING BETTER. The evidence I am looking at does not say things are getting better. THEY ARE GETTING WORSE!!! I have been in the investment business for over 40 years and have found that the charts of the various markets tell me what is going on in the longer term. I have repeatedly said that the Central Banks and the various Governments CAN change things over the short to medium term but THEY CANNOT CHANGE THE LONG TERM. Cycles have always existed and while they may be skewed to the left or right for awhile they ultimately happen until they are finished.
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Thanks to BrotherJohnF