Waiting for an Event
The background economic data that we presented yesterday should make the picture clear. This market is tied to something other than reality. Analysts always say that manipulated markets don’t react to data, they don’t have to because data is not what they are have for a base.
The election and the result along with employment data disclosed today, and not to ignore the COVID situation, do not go along with the scenario that was presented by Wall Street 6 months ago or even 3 months ago. But that hasn’t mattered, the money accumulated in the past 40 years can do what ever it wants until it cannot.
In this environment, a Major Event, whether accidental or intentional will be the catalyst for a reality check.
So I wait.