CNBC tries to make global markets look stronger than they are

CNBC World Wide Exchange reported on Wednesday: that "all 3 US indices hit new highs", and then added that "global markets are also trading at new highs", which is just not true. I'm going to call that, "fake news", in a rigged economy. It's easy for the powers to be to rig US markets higher, and then report how great things are, but global markets are in bad shape. Spain, Italy, Greece, Portugal; all the usual suspects. And if you think markets aren't rigged; I'd point to the 400+ point flash surge we saw on the $NYSE, in Dec., on light holiday trading

Yes the Dow hit 20k, but the majority of global markets - including the global Dow are not trading at new highs. Anyone with access to charts can check me out on that. The $FTSE is off it's highs, and the all time high on the $DAX was 12,390, made back in 2015.

Here's the DOW taking out our wave D target yesterday. Took a little longer than expected, and I'd expect it to hold up in the top of this range, going into the end of the month, which is only 3 trading days away. Bullish superstition holds that if Jan finishes strong, that sets the tone for the whole year.
There's a good chance the Dow retests the highs after we consolidate back to the bottom of the range - in what I believe is a panic wave E - but I'm expecting volatility to return in 2017, and my New Years resolution is to sell every rally....    

 The $RUT did not trade to new highs, but once we see another little pullback, I would expect it to...
Support looks like 1360.

I like Biotech now that it's pulled back, and there's talk of not taking immediate action on ObamaCare. Key support on the NBI is 2872 (that was the high set back in 2014, and now becomes support). Short term resistance is 2880. The pullback looks like this on a 60 min chart.

Gold (and Silver) are now trading down with copper. 114 becomes resistance on the $GLD. looks like it overshot to the upside, after over-shooting to the downside.  Support on Gold is 1180, so maybe it builds a base here. Gold and gold miners are volatile, and not for the faint of heart.

Here's why you look at different time lines. Gold is holding support on the daily candlestick chart.

Miners fell out of a parallel channel in blue, but I'd expect a back-test in a snap-back rally. Target is 23.35. Can't seem to post that chart, so I'll tweet it, and that wraps up today's update.

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