This chart was there since a long time and nobody said something
I played the Patrick’s projection and this morning I’m cooked.. Gold is down 5.82%. LOL I should asked before

The bond vigilanges called the Interest Rate on the US Ten Year Note, ^TNX, strongly higher to 2.31%, and steepened the 10 30 US Sovereign Debt Yield Curve, $TNX:$TYX, as is seen in the Steepner ETF, STPP, Steepening. Ultra High Yield Junk Bonds, UJB, and Junk Bonds, JNK, led Aggregate Credit, AGG, strongly lower. Emerging Market Bonds, EMB, International Corporate Bonds PICB, International Treasury Bonds, BWX, traded lower on falling currencies.

Currency traders successfully sold individual currencies short; these included the Brazilian Real, BZF, the Australian Dollar, FXA, the Japanese Yen, FXY, the Swiss Franc, FXF, the British Pound Sterling, FXB, the Euro, FXE, the Canadian Dollar, FXC, and Emerging MarketCurrencies, CEW, causing the US Dollar, $USD, to rise strongly to resistance as seen in the chart of UUP.

World Stocks, VT, led by the the BRICS, EEB, Emerging Markets, EEM, Nation Investment, EFA, and Small Cap Nation Investment, IFSM, traded strongly lower.

The difference between May 24, 2013, and today June 19, 2013, is that credit, currencies, and money died when the Interest Rate on the US Ten Year Note, ^TNX, rose to 2.01%, and today, all fiat investments were put in Liberalism’s coffin, and the age of investment choice is now gone forever.

Today, June 19, 2013, Jesus Christ operating at the helm of the economy of God, Ephesians, 1:10, pivoted the world out of Liberalism and into Authoritarianism. The trade higher in the Interest Rate on the US Ten Year Note, $TNX, to 2.31%, terminated the Banker Regime and its credit, which began as the Creature from Jekyll Island in 1913 with the Federal Reserve Act, and fully actuated the Beast Regime of Revelation 13:1-4, with its manifest as regional governance in all of the world’s ten regions and totalitarian collectivism and debt servitude in each of the world’s seven institutions, instituting the age of diktat.

Jesus Christ completed a large part of the Ron Paul Agenda, He terminated the Fed, he slayed it at the Ben Bernanke news conference today; something much more terrible and terrifying is here now, as the Beast Regime has “the feet of a bear, the mouth of lion, and the coat of a leopard”. With the rise in the Interest Rate on the US Treasury Note to 2.31%, Jesus Christ has birthed the Ultimate Predator. Listen, and understand. That Predator is out there. It can’t be bargained with. It can’t be reasoned with. It doesn’t feel pity, or remorse, or fear. And it absolutely will not stop, ever, until all existing economic and political life is no more.

I think we’ll see below 1598 first before we’ll see above 1700 IMHO 1598 NOT hold. Assuming A was down to 1598 (89 points) and assuming C=A, then we can count from the 1654 ending diagonal B-wave (sucka rally… yup yesterday I already mentioned the ED and that I thought it felt like it and it sure was!!!) a potential low of 1565. But, C can be 1.238, 1.382, 1.618x A as well. And even 0.618. But I don’t expect the latter. We’ll have to monitor divergence, waves, TA along the way -as usual- to see where things may end.

Given that price has already bounced off the 50d SMA twice, it’s rather logical to assume that buyers at that level have already been exhausted at that level. Note that the NYSE already went right through the 50d SMA today like it didn’t even existed… so one can expect the SPX and INDU to do the same.

The MACD on the daily never gave a buy signal, which indicates the B-wave “sucka rally” off the 1598 low (just look at the clear 3-waves up, with c of B being the typical ending diagonal. Classic, textbook!)

My 3-SSTO buy/sell indicator is about to give a sell signal on the daily. As I mentioned today: contracting BB and two of the 3-SSTOs in OB territory: not much room for upside…

A typical 38.3% retrace for a wave 4 at this degree has the SPX target 1555, which fits rather well with the 1565 C=A target.

Of the ~35 tickers I track, only 5 ended green today. (nflx, fb, goog… barely… p, and tsla). goog and tsla both completed a b-wave imho too. nflx is at extreme OB. I expected heavy selling tomorrow. No wonder 42 Billion was “reserved” for today/tomorrow, to stem the bleeding.