Peak Fantasy

FED Chair Powell speaks today and will say no end to stimulus until labor starts coming back to work in a big way. Of course, he is not in control of the labor force. I believe we are headed into reduced realization of GDP.

Here are two charts, first the composite asset chart updated through 9:00 AM today. The May 10 high remains in place as the numbers stagnate.

And secondly, what We call the Peak Fantasy chart, the index of the two darling charts AAPL and SBUX. A turn down on this chart will make us much more aggressive on the short side. An outside chart day, higher high, lower close will be the first step, the last time that formation occurred was on February 16, just before the last stage of the bubble started.

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