Today is just an appetizer...the Entree is just around the corner!

S&P currently @ 1369 and getting hammered down 22 pts!

CAUTION: TODAY IS CONFIRMATION of my last months worth of posts and technical deteriation in the markets....I made a case back on 3/29 that the Market had made a technical Top, and price would then take a bit longer but Top nonetheless as well ( http://mychartdiary.blogspot.com/2012/03/divergences-finally-gaining-traction.html  )...... Then on I rang the mytholigical Bell of the Stock Market Top back on 4/30 @ 1403 on S&P 500 ( http://mychartdiary.blogspot.com/2012/04/global-market-in-review.html )......World markets are at a MASSIVE TIPPING POINT and hinging on the VERGE OF A COLLAPSE...almost uniformly across the board world equity markets are about to break their respective 3 year H&S patterns and are currently sitting on very important necklines....Markets are setting up for a very possible "flash crash" type of event that could happen as early as Monday....EXTREME CAUTION is warranted on the long side....Now is the time to be SHORT not LONG!!!  You won't find anyone on CNBC telling you this....but markets are very predictable when you recognize patterns, waves and cycles...we are about to embark on a precipitous haircut to the tune of 30-50% across the board on all world markets...Globalization was a great idea 10-15-20 years ago...but when you look at my top 15 Economies market posts a few days back, look at how eerily similar everyody looks...scary stuff...it doesn't matter how much our Federal Reserve tries to fight it, the deflation cycle is about to hit and hit very hard....be smart don't be long stocks...I warned as early as a month or two ago that it was the time above 1400+ to sell everything and not be the dummy to try and squeeze the last 1-2-3% of upside out of the toothpaste tube...see the 1st link above....because there was severely more downside than upside around the corner...please don't listen to anyone telling you this is a buying opportunity...wait to purchase those people's shares 25-50% lower down the road after they buy and puke 'em out at the bottom....cash is king right now I don't care what anyone says....preserve capital now and thank me later!