S&P 500 Stock Market New All Time High as Debt Ceiling Propaganda Ends
Stock-Markets / Stock Markets 2013 Oct 20, 2013 - 03:44 PM GMTBy: Nadeem_Walayat
From amidst an extreme bearish environment as a consequence of U.S. Government shutdown and debt ceiling default armageddon propaganda that played out at maximum volume in the mainstream press, stocks markets like a phoenix instead of collapsing in to the depths of a deflationary black hole, have risen from the ashes and stealthily resolved to new all time highs, which as mainstream propaganda is now suggesting after the fact is on resolution of the debt ceiling play acting by politicians, as is being regurgitated at length now by the BlogosFear.
Major stock market indices as represented by the S&P500 and Nasdaq gave their answer to the fools that call themselves journalists in the mainstream press focused on a non-existant debt ceiling default debate that illustrates that they are nothing more than propagandists for an elitist agenda aimed at further concentrating the wealth by means of theft of the only thing that carries any value which is the productivity of individuals i.e. WORK. Whilst tens of thousands of perma fools who are nearly ALWAYS on the wrong side of the major trends, despite a coin toss having a 50/50 chance of picking the right direction, who if they actually backed their diatribe with actual market positions would have gone bust several times over many years ago which reveals the truth that they NEVER actually practice what they so vocally preach.
The S&P closed at a new all time high of 1744 and the Nasdaq at recent years high of 3914 (still over 1000 points away from its year 2000 all time high).
Meanwhile the main stock market index that I track and trade, the Dow closed at 15,399, some 300 points from busting to another new all time high.
I gave my opinion on what my expectations were for the stocks stealth bull market in my article of 2 weeks ago - 03 Oct 2013 - U.S. Government Shutdown Great for Stocks Bull Market, Bears Will be Crucified Again with the concluding graph as illustrated below.
As I pointed out at the time that the stock market was entering its seasonally weakest period of the year and thus it was no surprise that the stock market would be falling going into October. Similarly, as we pass out of the Mid October seasonally weakest point of the year then the stock market can be expected to have an increasing probability for trending higher into the end of the year, which strongly suggests that the Dow too will be following its brethren into another new all time high BEFORE the end of this year. The technical chart picture resolves towards suggesting a multiple wave rally that forms a trend that resolves to the Dow trading to above 16,000.
The bottom line is this that the hated and wall of worry climbing stocks stealth bull market remains completely intact, the year end picture resolves to a new all time high whilst the short-term is less certain i.e. a 50/50 chance for an imminent minor correction.
Debt Slavery
Understand this fundamental fact that THE DEBT IS NEVER MEANT TO BE REPAID BUT EXPANDED EXPONENTIALLY! This is one of the primary mechanisms for enslaving the masses into the service of the elite as indentured wage slaves, reinforced through a myriad of smoke and mirrors such as democracy, economics, public sector and the mainstream media (propaganda), as I explained at length in my following recent articles -
- 17 Oct 2013 - U.S. Debt Ponzi Scheme Ceiling Crisis Deal - Smoke and Mirrors for America's Debt Slaves
- 14 Oct 2013 - The Illusion of Freedom - Democracy, Religion, Science and Propaganda
My next in depth analysis will be Governments Inflating Housing Bubbles to Encourage Debt Slaves to Borrow. Ensure you remain subscribed to my always FREE newsletter to receive this analysis in your email in box during the coming week.
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Nadeem Walayat
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Nadeem Walayat has over 25 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of four ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series.that can be downloaded for Free.
Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 600 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk
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