this comment drew my attention:
On 9/24/2022 at 2:39 AM, sandy beach said:
This comment was on our message board last night. “Federal withholding & employment taxes up 16.9% in September from last year. Wow!”
I track and report this very important data every month virtually in real time. So I’m surprised to see that someone already knows what September will bring. I wasn’t aware of the existence of future data. Curious as to the source.
Anyway, it’s wrong.
Well now, that did a lot, didn’t it.
Look, I’ve said it before and I’ll say it again. The Fed is the black hole at the center of the worldwide banking system. So long as it is withdrawing cash and the ECB and BoJ are either still adding or stand…
So the Fed has never actually raised rates in this cycle. It has only tried to catch up with it. And failed. Again, the Fed’s…
I have to get out of my apartment for a couple of days. They are pouring a new subfloor. Hotel rates here are still stratospheric, so I’m looking for a comfortable spot under the arches at Place Garibaldi. There’s a nice community of old Polish fellows…
As usual the market has settled into a trading range for a few days as it waits for the FOMC circus to come to down on it regularly scheduled visit every six weeks. This show is just a few days before the annual Sell Rosh Hashanah, Buy Yom Kippur. But …
This is it, right here. 3869. If that breaks, the baby dinosaur that has formed on the chart of the ES, 24 hour S&P futures over the past two days, will be euthanized. So sad.
The next likely stopping points would be either 3860, or the lows …
While I do have projections for some of the longer cycles, I can’t answer that question for today. It could be a little or a lot. The parameters to watch in the next few hours are 3857 on the upside for resistance, and 3787-3778 on the downside for spo…
That’s what this head and shoulders breakdown measures to. First I would expect to see some support around 3840-45.
We’re talking intraday stuff here. The big picture is much worse.
I’m leaving Paris today, on my way home back to Nice…
The Fed is that far behind the inflation curve that it will have to break the speed limit just to begin to catch up. The result will be a violent crash.
I’ll be posting a Liquidity Trader update on that momentarily. Meanwhile, here’s a look at th…
The bond “vigilantes” (or should that be cuddly bond puppies) are sort of waking up from their sleeping beauty sleep. Which is so long overdue…..…