Monday, June 19, 2017

Blow Off Top aka. EPIC CON JOB

ZH: Dow And S&P At Record Highs. Nasdaq Lags

It appears the weekend Barron's cover story praising Tech has catapulted the Dow and S&P to new all time highs, ironically not accompanied by the Nasdaq. Yet. In other words, for the first time in 2017, the Nasdaq is no longer confirming the broader market, which is deja vu of the Y2K top in the S&P 500...

Meanwhile fake optimism is at an all time high based solely upon ubiquitous bullshit versus facts and the anticipated gains from impeachment:

The results showed optimism about the economy hit 30 percent for a second-straight quarter, the first such occurrence in the survey's [10 year] history.

CNBC: Dow At Record High
"Before the bell, New York Fed President Bill Dudley said the central bank inflation should pick up as wages rise along with continuing improvement in the labor market."

Continuing improvement:

Nasdaq 100 for 2017:

S&P 500

The only thing keeping bond yields this high is persistent Fed bullshit about unwinding the Fed balance sheet. As we see, inflation expectations are below the election levels.

Continuous bullshit and artificially levitated yields is the only thing preventing stock market meltdown. For now...

In other words, only Fed mega dunces believe Trump now...