Oh dear. People are embracing the bubble and, as it happens in every bubble, fantastical narratives are emerging to justify the valuations and the price momentum as folks cannot square reality with […]
Bears are rapidly losing the will to live, underinvested bulls are desperately waiting for a dip, any dip, to emerge to buy and the most complacent are rewarded with handsome gains. Welcome […]
The lowest job claims in 49 years coupled with the loosest financial conditions in 25 years, yet the Fed panic stopped all rate hikes following a 20% market drop and for all […]
The first quarter of 2019 was a smash hit for bulls. Capitulating central banks, record buybacks flushing the system with artificial liquidity, constant jawboning by dovish central bankers and permanent promises of […]
The big macro wheels are turning and everybody better pay very close attention. The Reckoning is coming. Best hope for a substantive China trade deal and a last minute save on Brexit […]
We’re back in the phase of markets where bears look like idiots and bulls look like geniuses. In 2018, following the US tax cuts, a growing economy and expanding earnings had bears […]
In last week’s Weekly Market Brief I made the case for a coming $VIX spike: “With a $VIX now at 13.5 and a big open gap at 24+ the $VIX is setting […]
Every week the village gathers and watches the regularly scheduled public crushing of Mr. $VIX. It doesn’t matter what happens in the world during the week, it doesn’t matter what economic reports […]
Magic indeed. From last week’s brief: “For next week bulls have the opportunity to ramp markets anew for OPEX week as these weeks tend to be more favorable than not. The goal […]
This week markets reached the key resistance confluence zone I’ve been outlining and rejected from there. Still $SPX managed to close the week positively by 1 handle making it the 7th consecutive […]
Before I go into charts some things just have to be said: All pretense has been laid to rest. Bears have been proven right. Markets are managed by a central planning committee. […]
This last week had something for everybody. Bears got a 50-60 handle pullback on $SPX, bulls got a defense of the 50MAs amid continued sweet talking of markets by political leadership and […]
