L.L. Bean, Coal For Christmas, And A Reset Still Possible

First things first: the run to L.L. Bean was successful. It was not as crowded as I thought it would be, so it made things much easier, especially parking. I guess I was lucky.

Christmas was great. I was really looking forward to quiet, quality time with family this year and got it.

Our markets got their rally, and Abe got a lump of coal.

Zero Hedge reported some Japanese government data that had a few stunners in it:

Real consumer spending on housing: -20.3% yoy

Real wages (nominal wages less the CPI inflation): -4.3% yoy, the largest decline since the 4.8% recorded in December 1998.

Abenomics is now responsible for the biggest drop in Japanese wages on record.

This is crazy stuff, and with wave counts of both the Nikkei and the yen looking close to completion of what could amount to as bounce patterns, 2015 could be an epic year.

For the record, I still feel that the S&P is still making some sort of third wave high from the 2011 lows. A 20% fourth-wave correction echoing 2011 could see a test of the 1600 area. Then a weaker fifth wave could rally to the 2200+ area.

I highly doubt that the reset or "reboot" suggested by The Socionomic Implications Of September Vogue: 2014 has taken place yet.

However, it's still on track perhaps:

Today I'm watching 2079.77 which should hold for bulls, and 2085.20 which should hold for bears.