No new highs, no new lows, lots of chop and still no decisions on anything. New highs or not, trade deal or not, hard Brexit or not, the list goes on and […]
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State of Markets
Control
Let’s keep it simple shall we: 2019 remains a battle for control. The forces of intervention want to “extend the business cycle” as Jerome Powell likes to frame it by any means […]
Decision Time
Well that was fun. Big nasty drop and a vicious rally back up. Standard script right? After all we’ve all become accustomed to drops not lasting more than a few hours or […]
Stalemate
Where is it? The great bull market? Where is the imminent great bear market? Fact is markets are in engaged in a big game of stalemate. Bulls keep buying every dip, but […]
The Bear Case
It’s a dirty job and someone has to do it. May as well be me and I’ll make the bear case here as difficult as it is. And I say difficult, because […]
Playing with Fire
This week’s renewed move above 3,000 on $SPX prompted victory laps by bulls as the multiple expansion program inspired by central bank intervention and trade optimism once again dominated the market action. […]
Hopium
The first round in the Thunderdome goes to bulls as another hopium based rally emerged driven by relief headlines. First on the news that Hong Kong tensions appeared to defuse and then […]
ThunderDome
Bull and bear are entering the Thunderdome in September and October and only one will emerge victoriously. Both have 5 known developments to contend with inside the dome: The Fed, the ECB, […]
Trigger Warning
Every single dip was bought this week in anticipation of the Jay Powell speech and every technical signal was again ignored until it was too late when the triggers suddenly hit in […]
CONfidence
Markets are subject to a giant con game. The game of CONfidence. Confidence must be maintained under all circumstances or we’re heading into a global recession first and then a US recession […]
The Theme
In this weekend’s market update I want highlight a few observations that crystalize a theme that has emerged in this market: It keeps repeating key structures and patterns as it’s fighting a […]
Hitting the Wall
Are we hitting the wall here? Markets. Economy. Technicals. Valuations. All appear at a key crossroads here. Last week’s 3% pullback, while in itself not seemingly dramatic, came at a very key […]
