Pundits are calling yesterday’s drone strke a “black swan.” Can a drone strike on a Saudi oil facility, be a “black swan.” But is it? And are there really black swans?
On Wednesday afternoon (9/11/19) I sent this note to Technical Trader subscribers. I’ve redacted the specifics here, but wanted to share the thinking with you.
Not seasonally adjusted nonfarm payrolls, that is, the actual numbers, give us a truer picture of the jobs market than the seasonally adjusted garbage that Wall Street spews.
That’s right. The Fed is doing POMO again. POMO means Permanent Open Market Operations. It’s a fancy way of saying that the Fed is buying Treasuries, pumping money into the financial markets.
The beat goes on. The Treasury announced a 30 year TIPS issue today, bringing net new supply for the month so far to $119 billion.
After a big day like yesterday, I like to get a little long term stock market chart perspective.
WTF knows where the PPT will make its next stand? The Shadow knows! Lee, not so much. Take a look at these charts and see what YOU think!
Is it the end of a Bull Market? The S&P500 fell around 90 points. A precursor to something or is it just a moment in time?
The bulge in Treasury offering net supply issuance in the wake of the suspension of the debt ceiling, is starting.
Let the deluge begin.
Here’s an ugly stock market chart prediction you might want to consider in planning your trading and investments.