In the meantime, the Dow Jones Illusional Average will remain pinned to all time highs for self-delusional convenience.
In response to this reduced growth forecast, they further tapered monthly bond purchases by $10 billion down to $35 billion. They also indicated that interest rates will likely rise sooner than previously anticipated. All of which makes sense only to Central Bankers, ETraders, HFT Bots, morons - and combination thereof. Dow up 70 points as I write.
Inflation versus Deflation equals Annihilation
The Fed was motivated to accelerate tightening by news yesterday that inflation is picking up across the board with one exception of course: Wages
Costs up, wages down, what to do?
Jobless consumers turned to credit card debt at a 12% annualized growth rate, the highest since 2007:
Jobless consumers turned to credit card debt at a 12% annualized growth rate, the highest since 2007:
CAPITULATION
Facing extinction, Unhedged funds, unable to continue fighting this insanity, decided to capitulate and join the party way late:
Hedge Funds Go All In: Take Net Assets To All Time High, Cash To Record Low
The Dow Jones Illusional Average did its part in maintaining this illusion, by holding to all time highs amid zero volume:
The Borg is in a Coma
The S&P did its part by hitting a new all time high Today.
The VIX pulled its weight by falling to a 7 year low, confirming that nobody gives a fuck.
Spanish 10-Year Below the U.S.
Spanish bonds held up their end of this delusion by holding below the U.S. 10 year on yield
Small Caps made a feeble attempt at new highs
The Russell 2000 fell short of a new high and inconveniently leaked the fact this will all implode with extreme fucking dislocation...
The Nasdaq average stock (red) is in full agreement with the Russell
STILL NEGATIVE CORRELATION
SINGULARITY: What goes up together, will go down together
It's hard not to believe in a HALO crash with the Dow pinned to all time highs while everything else falls to shit in the background. How else will this end? Happily ever after?
The Borg is in a Coma
The S&P did its part by hitting a new all time high Today.
The VIX pulled its weight by falling to a 7 year low, confirming that nobody gives a fuck.
Spanish 10-Year Below the U.S.
Spanish bonds held up their end of this delusion by holding below the U.S. 10 year on yield
Small Caps made a feeble attempt at new highs
The Russell 2000 fell short of a new high and inconveniently leaked the fact this will all implode with extreme fucking dislocation...
The Nasdaq average stock (red) is in full agreement with the Russell
STILL NEGATIVE CORRELATION
SINGULARITY: What goes up together, will go down together
It's hard not to believe in a HALO crash with the Dow pinned to all time highs while everything else falls to shit in the background. How else will this end? Happily ever after?
