Trump Signs Executive Order To Unwind Obamacare
Trump Doesn't Know What's In His Own Tax Bill
Trump Demanded 10x Increase In Nuclear Arsenal
Tillerson Last Sane Person To Call Trump 'Moron'
The White House Is Now A Day Care Center
Trump Wants To Decertify Iran Deal. No Clue What's In That Either
Trump Ready To Implode NAFTA. No Idea What That Will Do
North Korea Warns Trump Has Lit The Wick Of War
Suffice to say, all of the risk is "priced in" for meltdown. Zombies have every right to feel like total fucking idiots for not seeing it coming.
Meanwhile, note to Prechter, machines don't care about Social Mood. Now that Wall Street is involved, I suspect that the same momentum algorithms powering the S&P 500 are now powering Bitcoin. Meaning these algos buy on strength and sell on weakness in order to draw speculators into the market to chase momentum.
It all works great on the way up...
For example:
Way back in October 2014, October 15th to be exact, the casino had a bit of a swoon, which was followed by BTFD and then a topping process. Roughly a year later in late August 2015, the market flash crashed. This past year we notice a similar pattern and yet the S&P 500 has chugged higher compliments of sector rotation. It's low volume, low volatility momentum ignition at its best:
Despite imploding breadth, the casino remains aloft, how?
Rotation to the largest cap stocks:
Within sectors, Emerging Markets have been leading, making a new overthrow high yesterday, as S&P 500 volatility was crushed back to all time lows:
Rotation to the largest cap stocks:
Within sectors, Emerging Markets have been leading, making a new overthrow high yesterday, as S&P 500 volatility was crushed back to all time lows:
And Financials have been strong as well, however I mentioned a while back that JP Morgan, the largest U.S. bank, has top ticked the market twice this past year. They just reported today and now the stock is rolling over:
Back to BitCasino. As I said before, Bitcoin is used to buy the other ~1,000 cryptocurrencies. Now thanks to Bitcoin's overnight moonlaunch, in terms of Bitcoin, those other currencies are getting monkey hammered.
In other words, BitCasino is now the only game in town, and ironically those gamblers who bought it as a launch pad to other cryptos, now will have to unwind at a major loss in terms of Bitcoin.
Which explains why Bitcoin is going vertical. Because currencies are a zero sum game. And it's now ~1,000:1, with a few exceptions:
Semis are holding up. For now...
Behold the only U.S. bank that profited from the global financial crisis, reaching another late cycle peak:
