“There is a sixth dimension beyond that which is known to man. It is a dimension as vast as space, and as timeless as infinity. It is the middle ground between light and shadow — between man’s grasp and his reach; between science and superstition; between the pit of his fears and the sunlight of his knowledge.” – Rod Serling
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And so, as the Drop Dead Date approaches, when the US Government runs out of money and can no longer pay all of its bills, we enter the above described arrondisement. Or “borough” as New Yawkuhs might say. We are no longer on Wall Street. We are in the Twilight Zone.
It’s kind of like Staten Island. Nobody wants to go there, but people live there. Mostly cops and Mafiosi. And it only pretends to be New York. It’s really New Jersey.
So this is the market now. We don’t know where we are. We’re stuck in traffic on the 440 on the way to Wall Street and we don’t know how long we’ll be there.
As I mentioned yesterday, the market is probably headed for the Dick Trickle Memorial Point, which is at 4130 at midnight tonight. To avoid such ignominy, the market would need to clear 4142 with authoritah for an upside move. Or to smash 4110 to head lower.
In both cases, there are reasons, and lots of lines, to suggest that there will be no follow through. Therefore my recommendation for today’s trading is…
FAMILY VACATION! Coney Island, here we come!
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For moron the markets, see:
- The Twilight Zone May 15, 2023
- Swing Trade Chart Picks – Buy Side Wins This Week May 8, 2023
- There’s One Key this Week to the Stock Market Outlook May 7, 2023
- Gold Is on the Brink May 5, 2023
- Weak Real Time Withholding Taxes Set Up a Showdown May 4, 2023
- The Big One is Coming May 3, 2023
- Gold’s Lost Luster Will Shine Again April 25, 2023
- Enjoy the Market Mirage Now Because We’re Really In a Desert April 24, 2023
- The Fed’s Circle Jerk, is ‘Twerking? April 18, 2023
If you’re serious about the underlying forces of supply and demand that drive the markets, join me!
