Category: Market Analysis

(R)evolution

The first three weeks of 2022 have been brutal for risk assets including stocks and crypto. Long forgotten is the traditional Santa rally and suddenly cheerful $SPX 5,000-5,300 price targets seem much […]

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 […]