This week ended identically to the week leading up to VolPlosion 1.0 (Charts as of Friday close). Deja vu of February, Apple imploded on the Friday and today was a rare down day on the non-farm payrolls report due to "hotter than expected" wages...
As we see, the prior two declines this year were due to "hot wages". The goal of this rally was to kiss the 200 day goodbye, which happened at the open today:
Today lived up to full gong show billing as Donny discovered the power of Twitter-driven market manipulation only to be contradicted by his own economic advisor. Nothing like an administration that can't agree on its own lies.
President Donald Trump told reporters the U.S. and China are much closer to striking a deal on trade
"We're not on the cusp of a deal." When asked whether the president explicitly requested his top advisors to drum up a trade deal, Kudlow said "no."
Trump had the last word.
Meanwhile Apple missed on iPhone unit sales and guided down for the next quarter. The outlook is so weak that management indicated they will no longer publish unit sales. The stock imploded today. The iPhoney era is now over and the last MAGA Tech stock has officially imploded. Also deja vu of February:
What was bid today were banks as bond yields soared due to the strong wage report. The Trump apologists were all over CNBS this week blaming the out-of-control Fed for killing Trumptopia. Unfortunately, Trump's mentally challenged errand-boys have yet to explain how a 2% Fed Funds rate could possibly derail "The greatest economy ever". Because when it does, it will be the definitive proof this was the biggest con job ever...
As we see, the prior two declines this year were due to "hot wages". The goal of this rally was to kiss the 200 day goodbye, which happened at the open today:
Today lived up to full gong show billing as Donny discovered the power of Twitter-driven market manipulation only to be contradicted by his own economic advisor. Nothing like an administration that can't agree on its own lies.
President Donald Trump told reporters the U.S. and China are much closer to striking a deal on trade
"We're not on the cusp of a deal." When asked whether the president explicitly requested his top advisors to drum up a trade deal, Kudlow said "no."
Trump had the last word.
Meanwhile Apple missed on iPhone unit sales and guided down for the next quarter. The outlook is so weak that management indicated they will no longer publish unit sales. The stock imploded today. The iPhoney era is now over and the last MAGA Tech stock has officially imploded. Also deja vu of February:
What was bid today were banks as bond yields soared due to the strong wage report. The Trump apologists were all over CNBS this week blaming the out-of-control Fed for killing Trumptopia. Unfortunately, Trump's mentally challenged errand-boys have yet to explain how a 2% Fed Funds rate could possibly derail "The greatest economy ever". Because when it does, it will be the definitive proof this was the biggest con job ever...
Meanwhile, notwithstanding fake trade agreements, Chinese Tech stocks finally ran out of gas today. These stocks have been missing earnings estimates all week due to the weakening Chinese economy/currency. Alibaba being the latest company to miss, today.
Which means the short covering rally is over.
Which also means that the next leg down will see 100% correlation. To the downside:
In summary, McJobs have monkey hammered the casino twice, now three times this year.
Which means the gong show is ending.
"Higher interest rates"
Which means the short covering rally is over.
Which also means that the next leg down will see 100% correlation. To the downside:
In summary, McJobs have monkey hammered the casino twice, now three times this year.
Which means the gong show is ending.
"Higher interest rates"
