Patience, Key Ingredient in Macro Investing
There is a lot going on at the moment, but it may or may not be a time to actually do something.
- The Fracture which started on January 26, 2018 seems to be closer, see chart below.
- Trump has brought change, a few good things and a lot of bad things.
- At the moment he seems to be imploding, angrily jumping around in a seeming thousand ways, Lying Ted is now his best buddy, building 30,000 nuclear bombs seems to be an antidote to increasing fiscal debt created by the ill-conceived tax give-away.
- In a way the Democrats maybe should hope they don’t win over the House and Senate in the mid-terms, as the economic implosion, that is pending, no doubt will be blamed on them.
- The S&P’s got close to the support level of the trading range, 2688, so a bounce can be expected towards the 2776 swing point.
- Keep in mind today will be the second day that the 3 day average is under the 200 day.
- Depending on what stocks do over the next three weeks, there is a good chance you have seen the highs on the 30, 10, and 2 yr interest rates for the year.
- So be patient, the craziness that started with Bernanke and topped by Trump will eventually undo itself.
- But do keep in mind tomorrow is a Full Moon, important sometimes at key junctures.
Here is the F-3 Fracture Chart (updated at noon today after the start of the bounce):