So the Fed croaked. No surprise as they have signaled it all year, but perhaps the extent of the capitulation is surprising.  How scared are they? No rate hikes in 2019, one rate hike in 2020 and markets don't believe a word of it as they are now pricing in a 47% probability for a rate cut into … Continue reading

BS Alert

Just a quick follow-up to the many divergences I discussed this weekend in Deception. One chart in particular really sticks out here and that is equal weight, the $XVG.  What is the $XVG? It's the value line geometric index that tracks the median move of stocks within the index using equally … Continue reading

The Giant Float

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The End of Trust

I worry about America. When I was young, despite all its problems, America was greater than life, always beaming with optimism with a vision of a better future always ahead. Now that I'm getting older I'm very much unsure. Maybe I now know so much more than when I was younger, that is highly … Continue reading