Category: Market Analysis

Untethered

As markets have continued the non stop levitation to new highs they become ever more untethered from basic market history and I want to highlight one interesting example. But first for context: […]

Mistake

Things are coming to a head. Things are changing rapidly if you pay close attention. As you know I’ve been hammering on the Fed for overdoing it on the liquidity front causing […]

Game Over

Game over. Occam’s Razor: The simplest explanation is often the best one. Central banks will never extract themselves. Whether they ultimately end QE is besides the point. They won’t reduce their balance […]

Crushed

So they crushed the $VIX again as volatility has entirely disappeared and the never ending rally keeps on ticking high relentlessly. Welcome to every big rally in recent years that all ended […]

It’s Coming

Bored by the benign chop in markets drifting ever closer to all time highs again? With almost programmed certainty new highs are coming every month after all. New highs Fed balance sheet, […]

Transports

Following up on The Trap which suggested recent market strength may turn into a bull trap. Last week again we saw the tiniest dip in markets instantly reverted and markets again closed […]

The Trap

Markets continue to be engaged in a very subtle battle for control. Having just witnessed another minor pullback of 5% or so here in May one can certainly argue it’s business as […]

Froth

So Powell finally used the F word: Froth. Being non specific though as one would expect and being super careful as to not overtly link monetary policies to the said froth we […]