The International Monetary Fund (IMF) predicts that most of the world’s major economies will see growth, except for Germany, which is now forecast to do worse than in the last report from April 2023. According to the latest July estimates, real gross d…
No change from last week’s comments for the metal, The mining stocks are also quiet. I chose to sit tight with the 6 longs on…
I’m adding 2 shorts to the list, against 0 buys. With 19 longs already on the list, and the uptrend aging, I’m reluctant to add…
We merely need an hourly close below 4550 to create a lower high on the chart of the ES 24 S&P hour futures. On the other hand, a move above 4565 would have a conventional measured move implication of 4595.
Sigh.
Right now, we appear to …
I am on a train to Nuremberg this morning. Lots of thoughts about what happened here 8 decades ago. Meanwhile, I see no reason yet…
I have been meaning for weeks to hunt for correlations in the data between bank loans to shadow banks and stock prices, and between bank…
Money rates are now slightly positive to consumer inflation. Historically they’ve reached punitive levels before the market turned. In other words, monetary policy is not…
OK, I keed. I keed.
We got the little 3 day cycle pullback into what should be the low of that cycle right now. But whether the 5 day cycle has also topped out isn’t yet clear. It depends on what happens between 7:20 and 9:30 AM ET.
The pul…
It’s like all this guessing about when the next recession will be. Why bother. It’s a joke. We don’t know when the next recession will be and neither do that. We don’t know when and where the top will be either. We can guess, but what’s the point. Trad…
But I’m not worried any more. If the ES 24 hour S&P futures has an hourly close below 4505 this morning, then we can talk. For now, this looks like just another consolidation pending another breakout. Because the Fed’s slush RRP fund is working.
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