As usual, Fed Day gave us quite a ride. The big news was that our friends at the FOMC plan to give us another 3 rate hikes this year instead of 4. Guess how many Fed meetings there are with accompanying press conferences left this year? Three. How about that.
My stomach went into a knot the moment the news came out, because everything – – EVERYTHING – – went against me big time. It didn’t last though. Just imagine how many people were short the utilities and got stopped out, all because of a stupid, multi-second Fed spike.
Thanks, Jerry! You’re a peach!
The town fathers of Palo Alto have outdone themselves this time.
Here in my town, as with most of America, the public schools are named after public figures of note. All across the country, you’ve got your Washington High, your Lincoln Middle School, Churchill Elementary, and so forth. In Palo Alto, a couple of schools have been named after David Starr Jordan and Fred Terman. They’ve had these names for decades, ever since they were opened.
Well, when political correctness and social justice warriors were at their peak a couple of years ago, some people came upon the fact that Jordan and Terman had, during their time about a century ago, been advocates of eugenics. In their era, many scholars and men of good will openly discussed the idea of improving the human condition by promoting reproduction among “desirables” as opposed to, say, the retards that hang out in the ZeroHedge comments section. (more…)
By Ryan Wilday, ElliottWaveTrader.net
In my last article I stated that we had the potential for a lasting bottom in the crypto market, starting with a low in most coins on February 6th. However, in that article I also gave the conditions for that bottom to fail.
Those conditions, unfortunately, became reality. We have since seen both Ether and Verge, highlighted in that article, slide to new lows below the February 6th low. Bitcoin and Ripple did not fall below their February 6th levels, but did confirm the unlikelihood of that low marking the beginning of an impulsive wave.
In the process, Ripple is largely acting as expected. (more…)