You low life scum don't need to hear my take this morning. Not really sure I have much to say that can clarify the clusterf that is the economic and political world today.
Reality no longer exists. Why bother discussing something that is completely out of your (or anyone's) control? Let's discuss something relevant and material. Here is my take on the Super Bowl - Elites from New England play the 99% from Seattle. How do you think it will turn out? Damn, more irrelevance. They got us coming and going.
On to the lie -
My bias remains to the south.
SPX Daily - Check out TNX (pink) on this chart. Commods, bonds, everything BUT the equity markets is off kilter. Common sense and the odds both tell you what must happen, or that the odds of a correlation not happening are off the charts. They have apparently lost control of everything but equities, which as STB has noted for years is their veil hiding the harsh, cold, crumbling, decaying real world. Technically things are rather weak. To the sell stop question I got the other day - where will they all bail ship - I lowered that number from 1969 to 1945.
SPX and the BDI - Just a visual. I guess they don't ship iPhones? All is well!
More to come below.
Have a good weekend.
GL and GB !