The rally predicated upon the superfluities of some cigar eating savages has ended. If I might say so, the rally ended on a bit of a sour’d note, with the Dow getting clown slapped in the final half hour of trade, the time of day designated for handicapped traders in wheeled chairs, traversing ramps for both fun and glory.
Today’s big story wasn’t the fact that asset prices rose, but the fact that the Yen could not trade lower amidst all of this overzealous perfidy. For lack of a better phrase, the entirety of the Japanese people will be fucked if the Yen breaks 100 to the downside on the USD/JPY cross. Now sporting a 103 handle, things will begin to get very interesting soon.
Moving on. Gold was once a lot lower, but closed near the flatline.
Everything about the rally was pernicious. Inside Exodus, the IWM is flagged overbought, with a flawless track record to boot. During the previous 10 occasions when the IWN was overbought, all ten led to a market decline, averaging next to a 2% loss over 10 trading days.
Be well.
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steroid-injected whore market
Nice observation on iwm. I noticed the outperformance on friday.
I’m gonna try traversing ramps for both fun and glory this weekend. Sounds very kool.
Fly, your fame as a Space Alien Magician (SAM) is not lost on Marketwatch: http://www.marketwatch.com/story/the-most-dangerous-thing-that-could-push-the-sp-below-700-2016-06-20
I’m the best damned finance writer in the country.
“This is the height of all stupidity. If there was a pecking order and the dumbest s**t ever was at the top, this would be the crown jewel,”
Holy fuck that is one hella qoute. Props!
700? Mighty close to 666.
Le Fly, anything sticking out in the natty space that you like?
Maybe. But there are some pernicious upside chart gaps that would look much better filled.