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The up/down/up/down market remains fully in place, it seems. After a brief bout of weakness yesterday, sure enough, the market recovered last night, and we’re mashed right up against that descending blue trendline which has proved to be a mildly important level of support and resistance in recent history. It would take a break above that higher blue trendline for the bulls to start to capture some sustainable momentum.
Our patron saint George Carlin’s wife, Brenda Carlin, died in 1997. They had been married 36 years, and they had a daughter, Kelly. After the 9/11 tragedy, George wrote the following, which I think shows a side of him most people didn’t know existed in such nuance:
The paradox of our time in history is that we have taller buildings but
shorter tempers, wider freeways, but narrower viewpoints. We spend more,
but have less; we buy more, but enjoy less. We have bigger houses and
smaller families, more conveniences, but less time. We have more degrees
but less sense, more knowledge, but less judgment, more experts, yet more
problems, more medicine, but less wellness.
We drink too much, smoke too much, spend too recklessly, laugh too little,
drive too fast, get too angry, stay up too late, get up too tired, read too
little, watch TV too much, and pray too seldom. We have multiplied our
possessions, but reduced our values. We talk too much, love too seldom, and
hate too often.
The following is the opening segment of this week’s Notes From the Rabbit Hole, NFTRH 396. The report also covers, in detail, the technical status of US/Global stock markets, precious metals, commodities, currencies and even a few individual gold miners and a couple of new (non-gold related) NFTRH+ trade ideas.
In January of 2013 we noted that the “Canary’s Canary” chirped and signaled an economic up phase (such as it was) on the horizon. The Canary was the Semiconductor sector, which is cyclical and economically sensitive. The Canary’s Canary is the Semi Equipment sector, manned by the likes of Applied Materials and Lam Research.
