Rush Limbaugh Calls It and Other Monday Musings

Good Morning:

• Just a little January 11, 2021 antidote from Rush  – he saw it all coming just as we did. But like most of you, we did not want to believe that we had lost our country to psychopathic, European, communist, authoritarian, eugenicists – but it has happened. 
• And the brain-dead President Orwell is a corrupt World Economic Forum tool, sadly worshiping at the feet of WEF leader Klaus Der Wienershnizel (the real Dr. Evil).
• And while President Orwell pursues the WEF Utopian fantasy (which doesn’t include you), China, Russia, and the other BRICS nations are methodically and justifiably plotting our undoing.
• With two more years at the helm and help from the RINOs, the Orwellians will solidify their permanent, authoritarian control of the USA – the biggest prize communists have sought since the 1950s. That should be just in time for the onset of World War III. By the way, for my fellow gray hairs, wasn’t Joe McCarthy, right? He doesn’t look so crazy now – does he?
• Step one – Last week, the G20 Surveillance State Association approved vaccine passports for all G20 countries. Can the passports be printed before the recipients drop from the shot?
• Did you hear about the G20 framework approved for reparations to third-world nations? Your treasury is about to be robbed again. After the Orwellians and their supporters take their corrupt cut (think FTX), the rest will be stolen by the despots that run these third-world (communist) regimes, Folks, we are talking trillions here! 
• Patriots – we blew it. The midterms were our last chance. There will be no going back from here. Strap in because it all needs to burn down before we even have a prayer of restoring the Republic. This must be what it was like in the final days of Rome.
• Emma Goldman once observed that the elites would ban voting if voting worked. Embedded in her observation about voting is the true contempt of those in power for you and others they rule.
• The saddest takeaway from the midterms is just how many of our fellow citizens, especially young people, drank the Kool-Aid and share this contempt. They think joining the cool kids club and pushing the Skinner Box button on election day will save them from the Orwellian elites’ tyrannical impulse. Good luck with that.
• So should we be upset that the Fed might burn Europe down with higher interest rates? I am cheering for the Fed now. The more Europe, the U.S. Treasury, and the United Nations squawk at our Fed, the better.
• Even if we burn our economy down with higher rates, it may be our only chance to reboot the country we once loved.
• So what is your Plan B? Time to dust it off.
• Meanwhile, back at the ranch, futures are down slightly to 3950 ahead of the Thanksgiving Indigenous Peoples holiday-shortened week.
• Our updated forecast shows lighter volatility today, with a 1% implied move plus or minus the open.
• Both 3900 and 4000 are in play this week.
• 4000 is where we see heavy resistance, with lighter 3975 resistance in between.
• To the downside, we note a support band from 3960 (SPY 395) to 3950. Beneath, there is more significant support at 3900. Below is another air pocket – let’s leave that alone for today.
• We see option market positioning as very neutral in the 3950 – 4000 area.
• Our default view is that markets want to revert into this zone, particularly the 4000 strike. 
• Until further notice, we are in a balance/consolidation zone, still digesting that huge candle from over a week ago.
• We likely need a trigger to push markets significantly in either direction, and Wednesday’s 2 pm ET Fed Minutes appear to be the nearest data catalyst.
• Our base case is one more push higher before we set the nominal 80-day wave down into the early December Fed meeting.
• After that, the market should try to launch a new nominal 80-day wave which is likely to fail early as the market winds down into the 18-month cycle low scheduled for February 2, 2022.
• Oh, I forgot to mention that the February projected low is likely the mid-cycle “pause.” The next 18-month cycle low is scheduled for 2024 on the nominal four-year Presidential Election cycle, which might be the one that blows everything out of the water, just in time for World War III to commence.
• I will be in the Trading Room tomorrow only.

Happy Holidays Comrades. Long live the State!

A.F. Thornton