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I’m really liking this market! Which always makes me worry. If things are going against me, I feel bad. If things are going my way, I worry. Quite a personality, right? But let’s take a look at a few ratio charts.
Here we have the IWM divided by SPY, which suggests to me that small caps are probably in trouble Real Soon Now.
I find this fascinating: examine the symbol FR:T10Y2Y, the 10 year rate minus the 2 year rate. This concoction has done a crackerjack job of predicting every single recession, and the most recent is no exception. I have tinted each instance when this data point went negative, and then reversed, to highlight the “V” bounce in this spread.
Some people have accused me of being smart. I fervently disagree. I’d like to offer into evidence something which the Virtual Trading system has taught me. Plus, I’d like to encourage you folks to use the system not so much for the ego-gratifying chance to get onto the Top Ten list, but to learn something about yourself, as I have recently done.
Well, that worked out well. I have relentlessly declared that Peloton (and Zoom) was an accidental beneficiary of Covid, and now that Covid is in the rear view mirror, people are going to turn cold to the idea of paying monthly fees to sit in a stationary bicycle. I called for a price target of $111. Well, voi-freakin-la!
As I wake up to a new morning and glance at the heterogenous quote screen, I see that NASDAQ is nasty…….
