Correction to 50% channel line, Palladium Inverted Head and Shoulders

Palladium, getting traction in a up channel, and breaking out of a MASSIVE Inverted Head and Shoulders pattern.    Target 1100.   Consider buying physical Canadian Maples.

Tim Knight of Slope of Hope famously coined the "Oh this is Silly" OTIS, when markets just get, well, silly.

Look at this back to back days of massive spikes up and down on silver futures.

Back in the Day of Fibo 61 Retracement, Leader Indices confirming a top

Back in the day, the market was content with a 61 Fibonacci Retracement.

Starting around 2009, the market started insisting on 78 Fibo's. Now seeing more 100% Fibos to blast the stop of anyone who got in on a trend change.

The leader indices, Nasdaq and Russell (or maybe we should say the exuberant indicator indices) both show clear overthrows of the channel out of the 2008/2009 bottoms.  

Confirmation of an at least near term trend change.    Expect a "shakeout" drop of AT LEAST 8% prior to Santa Rally.

SPX and ES both displaying clear topping behavior, Caught Botween a Blimp and a Hardline

The Blue Line is the Bernoulli 133, obvious support, until it breaks.   maybe one more bounce, but methinks not, see it is "out of time" on the Blimp.

Still short term Bearish on US Equities

I see a pretty quick tank down this week to get the Bears salivating again, and loading up on puts.    Then, slam, Lucy snaps the ball away with a big rally into expiring at end of NEXT week, 10 days from now.

Its a 61% Fibonacci retracement of the drop last week, with 3 stabs up over 3 days, that is enough to dishearten most trading bears.   The market "did it's job"

SPY