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The first property I ever bought in my life was a small house – – I think it’s called a “patio home” since it’s a freestanding structure, but it’s a part of a bunch of homes on a large plot of land. It was way back in 1989, and I was recently down there in Sunnyvale and drove by it.
Ever wonder where all those trillions from the Fed wound up? Well, there’s plenty of balloons for all that helium, and below I offer a dozen real-life examples to illustrate just how bug-eyed insane the world has become. This isn’t normal, folks. And it isn’t sustainable. My only astonishment is just how long they’ve been able to keep this show going. Observe and be amazed:
You already know the existing ones, which have been doing great (like $ATOM) but I’d like to offer three more:
Everything is in the groove from my post yesterday. NDX and ESTX50 made new all time highs yesterday. SPX and Dow made new all time highs today, RUT retested the August high today, making the second high of a possible double top. Only DAX looks slightly short of a new all time high but that may well be made too on Monday.
I had a look at all of these in my premarket video at theartofchart.net this morning and posted that on my twitter. If you missed that and would like to see it, you can see that here.
Obviously there is a chance that everything breaks up further here, so I’m carefully watching the well established resistance trendlines on SPX and NDX. The SPX wedge resistance trendline is currently in the 4450-5 area.
SPX 60min chart:
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