Today, I’m not living and working in a construction site. Major renovations of the apartment that I closed on last week have begun. This morning a small crew came in, demolished two interior walls, removed upper kitchen cabinets, and did a few plumbing…
I don’t know.
The Fed is still tight. At all those other bottoms the Fed had turned to easing.
Rule Number One. Don’t fight the Fed.
Do I respect technical data? Yes. Is there a first time for everything. Uh… yeah.
Only hitting the low 90s here every day. But that’s 10 degrees F above normal.
As for the market it’s not too bad, and not too good either. Here’s the 2 hour bar perspective on the ES 24 hour S&P futures. Rangebound shit for the past two wee…
The ES, S&P 500 24 hour continuous futures chart looks like the Nike logo this morning. The bulls are living up to their just close your eyes and fucking do it ethos. They’re buying with both fists as New York traders start rubbing their eyes and g…
OK, we’re a day trading thread here, so let’s keep that headline in perspective. On the other hand, if this sticks for more than a few days, then we should keep in mind that this low was higher than the one in June. But we”d still need to clear 3919 o…
That’s right. In the pursuit of its inflation mandate, the Fed has been incompetent, delusional, disingenuous, and dangerous. And despite Wall Street’s and its captured…
That’s right. It’s the national holiday of France. Here they call it the Fourteenth of July. Pretty clever, huh? Reminds me of another country I know well. Know it better than this one even.
The French celebrate by eating cake, of course.
T…
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Meanwhile, stocks are set up in a maximum indecision pattern, smack in the middle of their range of the past 3 weeks. They’re waiting for the bad news on CPI, which everyone knows will be bad. So it should all be “priced in,” right?
Posted first at Capitalstool. Join the fun. Not only is the Fed behind the curve on inflation, it’s behind on hiking the Fed Funds target…
Originally, posted at Capitalstool. Join the fun! Well, everybody said that the euro was headed to parity with the dollar. This morning, the goal was…