“Instability” is Jerome Powells middle name. Over the past two years I have repeatedly pointed out that on August 10, 2020, the FED had the information that told them to stop QE. Now on September 27, 2022, they had the…Continue Reading →
The retest of the June lows has been messy, but was probably to be expected as 11 years of artificial markets are seeing their sunset. During the bottoming process, which started on May 11th, market players have not been looking…Continue Reading →
Let’s talk about the elephant in the FED meeting room. 2 % inflation is not a realistic goal, they will be happy if they get it down to 3.5 %. And what is really going to happen is that the…Continue Reading →
I like to tie technical analysis to evolving starting points, simply because that is how you get meaningful information. Over the past couple of years here are the timing marks that I see as key. Bubble start point 8/7/20 Bubble…Continue Reading →
Posted at 11:45 AM, after the whoosh. Update at 5:15 PM The Macro Valuation level held by a slim margin. Now we have three days of data to digest, PPI, CPI, Retail Sales. The Marco total market valuation low of…Continue Reading →
We saw a fight at the double bottom of the data for the week of June 3 and Sept 30, and it held. This past week was one of a higher high and a higher low on the weekly S&P…Continue Reading →
Tomorrow’s employment numbers should set the stage for the battle. I will be looking for clues in the chart below where we look at the S&P vs the 2 yr note. The chart divides the S&P index by the 2…Continue Reading →
Just waiting for tomorrow’s U.S. employment number. I would expect a decent number, no big increase in unemployment. Also I believe we are beyond the Bernanke Economic Period where bad numbers were good for stocks and good numbers were bad…Continue Reading →
We are only into the third day of the retest of the June 16 bottom on the S&P. At the moment we still have the big money shorts and the technicians fighting this early move. The only technical number for…Continue Reading →
Good market action today as stable interest rates make a comeback, getting FED Funds rate up to 3.436 percent was an important final step. S&P will find resistance at 39.90 between now and the election. My guess is that an…Continue Reading →