This graph shows a six-year upward trend in the S&P 500 index, which started back in 2009. Technical analysis reveals the trend has now broken and a new downward trend has started.
Zero Hedge posted this graph on July 27 with the headline: The Most Important Market Trendline Since 2009 Was Just Broken.
This development is significant because it fulfills a prophecy given by Elvis Mbonye in January 2015. He saw the U.S. economy would “start a course of plunging” in June/July 2015. He said it would not correct itself in a short time, but would be the beginning of a downward plunge that would continue for years. I shared his prophetic word in my previous post, Elvis Mbonye: U.S. Economy Will Plunge in June/July 2015. So now we have evidence the U.S. economy has started a course of plunging.
Author: James Bailey
James Bailey is a blogger, business owner, husband and father of two grown children. In 1982, he surrendered his life to the Lord Jesus Christ. In 2012, he founded Z3news.com to broadcast the message of salvation by reporting end time news before it happens.
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Nice find Gegggy this is similar… This Alarming Event Just Happened For The 5th Time In History And The Other 4 Times The Stock Market Collapsed More Than 33%! http://kingworldnews.com/forget-the-hindenburg-omen-and-death-cross-weve-only-seen-this-event-4-other-times-in-history-and-each-time-the-stock-market-has-collapsed-more-than-33/
Start of plunge?
http://www.bloomberg.com/news/articles/2015-08-11/death-cross-forms-in-dow-industrials-down-5-since-record-high
War in Syria. War in Ukraine. War in South Sea ? In all the discussions about Forex and ETF’s, oil has not been mentioned. It will double or triple today’s low. I was looking for USO options in Jan. Today, someone made a pair trade for Jan 16’s. 10,000 calls and 10,000 puts…… Someone’s thinking what I’m thinking.
Hi James,
For information:
Obama declared war on Syria!!!
http://www.activistpost.com/2015/08/obama-just-declared-war-on-syria-and.html
Any
Hi Christian,
.98 is supposed to be before this event: The USD loses the dramatic value first, dropping the ratio to .58. Then if the CHF goes kaput, the ratio will skyrocket.
James – Thank you for all of the information you share on this site. I do think it is a tremendous resource for those who come here. I have been reading your posts and I unfortunately have some confusion. It is my understanding that the Euro and Swiss Franc will lose value before the US dollar drops in value. I do not trade forex, so I may be missing something. There is discussion that the USDCHF may reach .98 before dropping to .58. It is my understanding that the first quote means that 1 US dollar will buy .98 Swiss Francs. If the next currency move is for the Euro and Swiss Franc to lose value against the dollar, wouldn’t the USDCHF quote move higher? Later, when the US dollar loses value would the USDCHF quote go lower (to .58)? Sorry for the confusion, I’m just trying to understand the coming movements in the market.
The next big event is a drop in the stock market coupled with a devaluation of the dollar. That is when USD/CHF drops about 30-40%, but it is not the death of the dollar. Later, the euro and Swiss franc become worthless. Then the dollar and all paper assets become worthless. Regarding USD/CHF it is the opposite of what you stated. The dollar is the base currency, so the price shows how many francs are needed to buy one dollar.
The problem with that graph (market) is that it has little to do with the real economy. The economy and the market diverged a long time ago. One is contracting while the other is manipulated…….. To see the truth about our economy one must look past the lies and seek the truth found only on a few web sites……It is quite evident all economies are dropping and there is an acceleration occurring. Especially these last 2 months (June/July). I would say that prophesy rings true.
James My point was Nobama doesn’t have to wait for congress to come back to announce and send $1.2Bil to Ukraine
Nothing would surprise me with Obama because he just does whatever he wants to do without regard to our system of government. However, I saw a proposal was given to him. I did not see who it came from, but there was a proposal. Then he increased the amount six times. So I did not see Obama acting totally on his own because someone gave him a proposal. It seems likely it would come from Congress because that is our system of government and because they have already approved the original amount I saw.
Hi
While I am also of the view that another GFC type period is approaching due to the withdrawal of easy money from the system resulting in overinflated asset prices collapsing I would point out that on the chart even using the Log scale if one were to ignore the lower wick of the March 09 candle and instead draw the bottom from the lower body of that candle then currently we are still right smack bang on the support of that line.
The only reason I point this out is until they actually withdraw this absurd easy money policy from the system the party will keep going.
September for me will prove to be the key month
If they raise rates all bets are off as that’s the end of easy money
Interesting that September is the month of the Shemitah and 2015 is the 7th cycle of this Shemitah…………
A loan of around $1.7 billion was approved by the IMF to support Ukraine’s economy, according to the Fund’s statement
James,
Is this the amount you were anticipating? Or was it to come from the White House?
WASHINGTON (Sputnik) — The Executive Board of the International Monetary Fund approved on Friday the immediate disbursement of a new loan tranche to Ukraine in the amount of about $1.7 billion, the IMF said in a statement.
According to the statement, the completion of the review of Ukraine’s Extended Arrangement under the Extended Fund Facility (EFF) “enables the disbursement of SDR 1182.1 million (about US$1.7 billion), which would bring total disbursements under the arrangement to SDR 4.72 billion (about US$6.68 billion).”
Thanks for being on the alert watching for these things, but this event is not related to what I saw. There are three things to watch for the fulfillment of what I saw. First, it will be authorized by President Obama. Second, it will be military aid, not financial aid. Third, it will begin as a $200 million proposal, but gets increased to $1.2 billion. President Obama does not authorize IMF loans, although they all work for the same small group of financial elite.