The Line in the Sand, and the Fake Signals
The Line is 2511 on the S&P. That was the high of the S&P prior to the time when the Trump Tax Cut Euphoria started. The fact that the tax cut for the top 10 % brought a big increase…Continue Reading →
Big Picture
Inflation in Context
Why no big inflation? There is a lot of lamenting the fact that we have not seen much inflation since the 2008 Crash and the FED should not be raising rates. I would point out three things: You have to…Continue Reading →
A Macro Event was Signaled Yesterday
What does this mean ? There should be plenty of selling and trading opportunities as most traders and investors key off micro events. For the S&P, runups to the 2625 area are probable, and maybe even more to the 2675…Continue Reading →
What are they Smoking?
Who am I talking about? Try the Market Bulls. Yesterdays buyers, the players whose buys in the S&P yesterday probably averaged around 2710, a level to watch when things unravel in December. In the meantime, China Tariff resolution hype will…Continue Reading →
2688, S&P Line in the Sand
Over the past two days the important 2688 line is being defended by the bulls, they may or may not be successful, the important thing is that when the market closes under that level, maybe not for two weeks, the…Continue Reading →
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…Continue Reading →
200 Day Signal Confirmed
Yesterday we got the confirmation for all that has happened over the past couple of weeks. Now a few days of flipping around the 2776 S&P Swing Point would seem in order.
A Wake Up Call in the Wings
Gong Day Today could be the day that the gong sounds. Stocks are losing to a whole bunch of things. Versus, gold, commodities, even high yield bonds, the market stinks. See one of these charts below, S&P is blue line….Continue Reading →
The Blame Game
If you are a regular reader of our comments, you know what we believe are the main factors that were behind yesterdays market action. Two factors stand out, 1) Bernanke’s years of QE’s that created a cloud of artificiality in…Continue Reading →
The Long Leg of the Tax Transfer Bill
Last week we started seeing the markets take into account the repercussions of the government giving away a lot of money to corporations and the wealthy. The chickens are just starting to come home to roost. Interest rates are adjusting…Continue Reading →