Topping Trannies

The Hope Rally is OVER!  It has been replaced by the rally of premature conclusions.  Technically, you can see that in the VIX and in the length of time we have gone without at least a 10% correction in markets.  You can hear it on the radio anytime you have the stomach to listen to Bloomberg or CNBS.

Being a curmudgeon, I see a pattern much closer to its swan song than any kind of a major break-out, as best shown in the DJT.

WEEKLY

Top of the channel very near

 

DAILY

Could also be Cycle a and b of Supercycle (IV)

 

HOURLY

DJT spent most of 2012 in a sideways consolidation that looks very much like a contracting triangle to me.  The sharp thrust upward since that consolidation appears to confirm.