Up 2 weeks in a row means 77% chances higher high ahead the next week.
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it is June and the bigger picture charts aren't exacting inspiring confidence.
Political leadership in the Western world is not exactly inspiring confidence.
Central bank leadership is not exactly inspiring confidence.
Consumer spending seems to be in trouble, but they keep pulling a rabbit out of the hat. Lets see the August numbers on car sales and home sales.
I don't see any point in saying corporate earnings as the market does not care at all. But confidence in the FANG +5 is super critical. Article pointed out how much of the central bank liquidity creation has gone into those stocks. With liquidity going the other way when the selling starts, and it all ways does, there is no cash to buy them at a discount. The losses will be enormous, matched only by the losses the bond market will experience.
yea yea we keep whining about the debt ponzi companies like Tesla and nothing happens. Ask an old person who smokes, drinks, and doesn't exercise and who is in really bad shape dealing with multi pal long term killers where the turning point was. At least with bonds we know the point is now that the central banks have backed off on the pumps. Next up will be a major default. That will cause the jitters, then the credit taps will turn off and the serious selling will begin.
As the losses mount the funds will sell what ever they can to raise cash. We will see the interviews with the individual investors who were blind sided by their own greed. I have now seen this cycle a couple of times, I guess that is why I am so confident in the ending, I just don't know the details or the timing.