From Edmund Wells: I went to bed knowing last night – – absolutely certain – – that today would be better. Because, I gotta tell ya, Monday sucked out loud.
- The market exploded higher based on some made-up Chinese data;
- Internet went down thanks to Comcast;
- Then the power went out!
Indeed, the only good thing from yesterday, and I’m immensely proud of it, was the introduction of SlopeTiles, which absolutely rocks. Anyway, at least we don’t have any fresh bogus data to drive things higher, at least for the immediate moment. Today’s S&P 500 high eerily matched the extreme high of the left shoulder, both circled below.