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Since I’ve managed to wade into the waters of politics and religion in the past without mortal harm, let me up the ante and go where no one sensible has gone before…………race. Fellow Sloper TNRevolution has a much longer (and better) post than this one waiting in the wings, but I’ll probably publish that one Thursday afternoon.
This has obviously been a big topic in this country since, oh, about 1620, as well as quite recently. I’d like to comment on it by way of a personal experience. I’d like to use this to offer an idea about a distinction I see between prejudice and bigotry.
For all its progressive pretense, Palo Alto is no saint. It wasn’t that long ago that there was a specific street in my otherwise very rich neighborhood where the black people were expected to live. There’s was nothing subtle about it. It was the one black street of Crescent Park. That’s where I live.
Just a reminder before I get started that we are running our July 4th sale at theartofchart.net at the moment and that will be running until the end of next week. For the duration of the sale annual memberships are available for the price of only eight months at the monthly rate rather than the usual ten and as ever with all our memberships, the membership rate will remain the same with no price rises for as long as the subscription is maintained. If you are interested then you can find the sale page here.On to the markets. I was writing last week about the Janus (Bull) Flag targets at retests of the June highs on SPX, NDX, RTY and INDU and I was noting that NDX would likely reach that target first (done) and would then likely retest a major resistance trendline just above there afterwards (retested) and that the upswing on equities might fail there (possibly happening). Here is that updated NDX weekly chart. NDX weekly chart:
For some insane reason, people thought airlines would be great stocks to chase. Ummm, why? No one is flying. No one’s going to fly. Travel is going to be dead for years. It’s easy to see that people are stark, raving mad. The new plunge has resumed for airline stocks. Sheesh.