The Richest Man In Babylon

What drove this week's epic rally? Tax cuts for the ultra-wealthy. The same thing that has driven this rally for the past 12 months. And in the process, they crowned a new world's richest man - the same man whose web site has successfully bypassed the entire U.S. economy. Single-handedly imploding every sector of the U.S. economy, book stores, apparel stores, department stores, music stores, sporting goods, grocers, auto parts, electronics, home appliances, jewellers, home goods, furniture, and this week, big pharma. With help from the Fed of course...

Deja vu: last week the casino staged an epic rally into Friday closing at a new all time high. Then it fell this week through Wednesday. Then it staged another drive to all time highs...

Any questions?

I call this the double tap. Not a typo...

That's the short-term, here is the medium term:
Way back on July 27th of this year, Amazon catapulted to a new all time high. For a few hours, Jeff Bezos was the richest man in the world. The Nasdaq sold off for the following three weeks...

Fast forward exactly three months:

Amazon just added a Fedex in market cap in one day:

And now the long-term:
Way back during the week of October 27th, 2007 Microsoft made its cycle high. The Nasdaq 100 peaked at the exact same time. 

Fast forward exactly 10 years:

The rest of retail of course is getting obliterated this week:

Treasury yields are having a key reversal today:

The rest of the casino is imploding:

The world ex-U.S. is rolling over

Despite today's Nasdaq mania, the Dow peaked on Tuesday...

"I bought for the tax cut, but I stayed for the haircut"