I watched Trump’s speech last night, and although I’m certainly not going to get into politics here on Slope, I do want to at least note this: when he mentioned in carefully enunciated letters LGBTQ I had one of those “whoa!” type moments.
To be clear, I certainly have no quarrel with his (ostensible) expression of support. But can you imagine teleporting back to, say, the 1984 Republican convention and telling those folks from not-that-long-ago that their candidate in 2016 would proclaim his support for…………..transvestites? (I know the term is “trans-gender”, but we’ll use a more 1984-ish type term).
It’s bizarre enough that a real estate developer and reality television star is this close to the most powerful office on the planet. Pandering to cross-dressers, though – – – pretty wild stuff! One can only imagine what groups will be embraced in 2020.
Each candle on the SPX chart below represents 1/4 of one year.
Further to my post of June 27th, and, as shown on the following updated 20-Year Quarterly chart of the SPX, the 2016 Q2 candle closed today at a higher level than — on what was a previously potential bearish hanging man — the Q1 candle. This bearish reversal warning was not confirmed.
Instead, what we’re left with, at the moment, is a wide-range high-base consolidation for the past 6 quarters, with price now near all-time highs.
I’ve got to be gone for three freakin’ hours for end-of-year school conferences, so in the meantime, I offer you Rush’s The Big Money, with particularly germane lyrics boldfaced:
Big money goes around the world
Big money underground
Big money got a mighty voice
Big money make no sound
Big money pull a million strings
Big money hold the prize
Big money weave a mighty web
Big money draw the flies
As awful as the attack in Orlando was, I don’t think it qualifies as the kind of “major” attack I was describing below. However, it’ll be VERY interesting to see what happens in the polls.
Recently I mentioned how “don’t talk about religion or politics” is usually wise counsel. And, as with most wise counsel, I ignore it. I actually hardly ever discuss religion, actually, because to me it’s something deeply personal, and to hear others talk about their own beliefs is more than a little boring. I get a little riled when one particular religion chops off people’s heads (or burns them alive in cages, or what have you), and I’ve learned to keep my mouth shut about certain religions dominating certain industries. I pretty much leave the topic alone.
Politics, though, is a different matter. I consider it every bit as interesting as charts, because, you see, it’s not stocks or politics I find especially captivating – – – – it’s the history that’s forming around us during our lives.