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I am an old man and have known a great many troubles, but most of them never happened.
Mark Twain
I worry way too much.
There have been times when this has been beneficial. When I first became a parent, it occurred to me I could walk into any room and instantly do a threat assessment. Any sharp edges, corners, or other physical hazards became instantly clear to my eyes. My caution and awareness has surely saved our children plenty of injury.
(more…)Equities bottomed early on Wednesday the 26th and rocketed higher, partially undoing the damage for the Christmas Collapse. The Dow managed to tack on about 1500 points to its low, and I suspect equity bulls will enter 2019 limping but relatively optimistic.
As I look at the charts, some of them make me wonder “is that all they’ve got?” In other words, it only took a few trading days to push prices back up to shortable levels, such as with the NASDAQ:
I stumbled upon an extremely well-formed diamond pattern last night with the symbol XLP, which is the consumer staples ETF. I’ve drawn it below with the SlopeCharts polygon tool:
This is hilarious, and for those of you who are Benny Hill fans, it will be doubly so. And it’s dead quiet/boring on the market, so………..
