Massively oversold markets. Massively overbought yields and dollar.
Less massive today as an expected but random bounce starts. Duration unknown. Price unknown.
Bank of England goes from talking tough to printing money the next day. Yippee!
And the show:
Markets opened hot and wanted higher but could not fight off higher rates which started down and finished up markedly.
Still thinking near term we could bounce but yields have to have a respite. Their persistence to the upside quite amazing.
Better r/s in tech today but even the NASDAQ was way higher before finishing up only 26 points.
We have been warning you since Xmas 2018…
About Powell playing God with markets…
About Powell causing massive distortions in everything…
About what eventually Powell would be forced to do because of his stupidity.
You are seeing it in droves.
And the radio show:
After 2,000 Dow point in 4+ days, the market bounces.
TRANSPORTS bounce after 10% drop off of horrid FEDEX news.
NEW YEARLY LOWS juicy 728.
Hardly any NEW YEARLY HIGHS. Just some PIPELINES.
60 MINUTES interview with Biden was a farce. Should have just wished him a happy birthday.
10 year yield now above June high…3.49%.