ES Fills the Gap, Commodities Down, Bonds Flat, Dollar Up

Stocks are racing ahead of everything else if a rally is coming, or they've gotten overextended before a new low is made 10 to 15 percent lower, leaning towards 15 percent since there's much more fuel for a drop now. Conversely, the move to the gap was where I was expecting stocks could move on this rally. Beyond this and things are much more bullish than they appear. The entire market activity since June looks like a complex double bottom. Stocks will likely rally into the new year if this holds, possibly into spring. From a societal perspetive, this is almost a worst case scenario because I can only imagine how many people will be trained to hold no matter what, and I still expect a massive bear market has begun. The 3820 level is only a stones throw away and if that base completes, a rally up to the 4000 area is possible.

Finally, I do not foresee commodities such as oil rallying with stocks from here. If wrong about that, then seriously consider moving your assets into secure political jurisdictions and prepare for either far-left or far-right populist governments. The public is already at a breaking point, but continuation of an economy that shovels "wealth" into the pockets of the "1 percent" at the price of impoverishing the "99 percent" will eventually catapult the first guy who says he'll smash the 1 percent into power. The 1 percent of course being whatever he convinces the public they are, but as we've learned the past two years, people can be convinced to do anything including wearing useless masks 24/7 and cheering for nuclear war.