The JNJ buyback story is one that is becoming all to familiar. When corporate buybacks are 30% of market purchases (with the Fed being the remaining 70%) the "market is not healthy. When attempts to save executive stock laden bonuses and the golden parachutes rule this "market", well, the end result should not leave much to ponder. When corporations are investing free money from the Fed into what basically is an executive get rich scheme instead of their future (cause they know they have no future), then we know the end game is upon us. JNJ just beat, and that's all the sheeple need to know. How they beat is a total joke and should be criminal.
And continuing with the corporate "market farce we have - "So drastic job cuts, lowered revenue and EBITDA guidance, and "tough but necessary" decisions - TWTR up 5% in the pre-market."
As STB believes and has said for years - never - "Now Is Not The Time To Raise Rates" China Demands The Fed Live Up To Its "Global Responsibilities". China and European issues are the reason for the softening of the market overnight.
On to the lie-
SPX 15m - Triple and worsening negative divergences following a double overthrow screams overbought. The round number and then the double 38% fib convergence from 71 to 64 are my first two targets. All is well - protect the round numbers!
Freedom watch -
And for those that still believe the MSM narrative - Busted ! CNN Uses Jeb Bush Staffer Planted In Audience To Frame Donald Trump Narrative/Hit Job….
Just saying - This man builds luxury bomb shelters for the billionaires afraid of doomsday
More to come below.
Have a good day.
GL and GB!