Tuesday, May 23, 2017

"Never Again Is What You Swore The Time Before"

The Fed + Trump: Two bullshitters that implode great together...
Commercial & Industrial Investment
Credit cards
Enterprise IT

Early last week, the S&P gapped up to 2400 on minimal volume, and then crashed lower on Wednesday. This week, the S&P has gapped up to 2400 on minimal volume again...

As we see, the gap down filled some of the upside gaps, while this latest rally filled last week's gap down:

"Buy the fucking terrorist attack"

Not all of the gaps got filled of course...

So, we have to try this again...

Volatility compression:

In the meantime, deja vu of Y2K, Cisco confirmed that IT sales are slowing:

This shows 2007:

And several additional retailers imploded...

Foot Locker

American Eagle Outfitters

Urban Outfitters

Walmart made a new multi-year high, albeit lower than 2014...

Mall REITS continued to implode

Today, we learned that new home sales are imploding:

And homebuilders made a recent new 52 week high, albeit lower than the cycle peak:


More lies:

Mind the Gap 'n Crap

And repeat after me: "No casino gambler saw this coming again"

Just as long as Amazon keeps making new highs...

Because everyone knows you only need to own one stock in a market collapse...