Monday, October 23, 2017

A Bad Week To Stop Smoking Crack

"They lived happily ever after"

Good news: The next 10 tax cuts, real or imagined are priced in
Bad news: Tax cuts are not going to prevent recession...

Here we have two prior indicators confirming a market top. Both ignored...

Wall Street is beating the bullish drum as loudly as possible to get this shit show over the December 31st bonus finish line...Unfortunately, what the Idiocracy hasn't learned yet, is that Wall Street can't be trusted...

"Good news: This market is ridiculously overbought."

"So where are we on the Dow at the moment? A whopping 87.61 [14 day RSI], which is higher than 99.999% of all readings going back to 1900"

"if you sold every other time the RSI hit such an excessive number, you’d have missed out on some solid returns. At least over the short term."

The Dow has corrected sideways or down every time the RSI peaked this year (at lower levels than it's at currently). The casino is currently 4.5% away from the 50 day...

ZH: Approaching Longest Melt-Up In History

Why gamblers shouldn't just look at the Dow: