For many reasons, too asinine to mention, however, below the velocity of money graphically illustrates that the monetary expansion was strictly for the casino class and not the middle class:
Hence there can be no sustained inflation. To say nothing of wages and quality of jobs which keep going down, hence there's no buying power to leverage...
In short, you can either bet every fucktard you ever met will be right this time. Or, this last desperate gambit will all end with extreme dislocation. Take your time...
In the meantime, some charts from today:
Oil staged a bearish key reversal today, gapping up to the highs and closing on the lows, right at the upper trend-line...
Likewise, Exxon gapped above the down trend line...all very "bullish"...
Banks and financials rolled over today, although rates are hanging tight ahead of the Fed. Base case scenario, this historically massive one-sided trade unravels in force this week, sooner rather than later...
Financials weak, means small caps were weak as well...
Again, all "bullish"
Wilshire / Dow ratio:
On the currency side of this same boat, USDJPY appears to have rolled over...having funded this entire rally since Brexit...
Tech was very weak today...
Which means staples and utilities are "leading" again, at the end of the rally...
Leading from behind...
My Global Dow count in case you're interested...
Faux News got monkey hammered today...It's probably nothing...
Same thing - mind those Benjamins...
Last but not least, hedge funds keep getting buried deeper and deeper by this rally...
Hedge Fund / Dow ratio:
