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On Monday morning, I was thumbing through the Wall Street Journal, and their featured editorial insisted that Powell heed Trump’s demands and stop raising interest rates. It was interesting to see how they described the bailout from the financial crisis of 2008:
In last year’s market outlook for 2018, I anticipated a rise of around 10% for the SPX. At its all-time high set on September 21, the SPX had risen by 9.62%, before it began to lose its gains for the year, and more.
At the time of today’s analysis and post (December 17), you will see from the first percentages gained/lost graph that 7 of the 9 Major U.S. Indices are in negative territory year-to-date.
(more…)Another gargantuan topping pattern that portends much lower prices, not matter what Powell says tomorrow.
I have been nothing but pessimistic about Blue Apron, such as with this post from early this year (which I considered good enough to include in my Silicon Valley Babble On book). Let’s just say my snarky feelings about this organization seem to have been well-founded. New lifetime low, and now a penny stock:
You’re going to hear a quintet of words many times over the next day: “All Eyes On The Fed“, as the bloodied financial world prays that Jerome Powell will have absolutely no backbone at all and, out of fear of getting a mean tweet from the President, will cease raising interest rates. This morning, we can also see the hope that he will in fact wilt built into a saucer pattern on the ES:
