OK, this is just getting silly. As of this writing, this is the FIFTH time the /ES has approached 2825 and been repelled (I emphasis “as of this writing”, because I realize it could blow right past it at any moment…….but still!)

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OK, this is just getting silly. As of this writing, this is the FIFTH time the /ES has approached 2825 and been repelled (I emphasis “as of this writing”, because I realize it could blow right past it at any moment…….but still!)
You’ve almost certainly been reading about the college cheating scandal, which broke yesterday. This is an intensely personal story for me for a variety of reasons:
Let me say at the outset how thrilled and delighted I am to see a government agency actually accomplish something. The fact that these rich, out-of-touch, self-entitleddimwits have had their lives instantly ruined thrills my soul. What I would have given to have seen the look on Felicity Huffman’s withered face when they slapped the cuffs on her. Boy, oh boy. To say nothing of her husband, William H. Macy, an actor I used to respect.
(more…)In the midst of a generally strong market, one sector which is especially – – and relentlessly – – strong is Utilities. Below is the Dow Jones 15 (better known as the Utility Index), and even over the course of the past decade, it has steadfastly marched within its ascending channel, and the most recent four years with an even more pronounced angle.
It’s been an absolutely explosive rally today, and as of this moment, we’re getting dangerously (or tantalizingly, depending on your perspective) close to a breakout, where that line is drawn.
Good morning, everyone, and welcome to Wednesday. In spite of another everything-is-green nighttime session, I continue to beat my XLF drum, as I consider it a critically important chart to track. This ETF, which represents financial stocks, continues to grind its way through what I contend is a momentous (albeit glacially-slow) topping pattern.