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I look at 37 ETF charts every day, and three of them are based on the largest and best-known Dow Jones indexes. Let’s take a quick look at all three.
The first, and best know is the DIA or “diamonds”. As of Thursday’s close (which is when I’m composing this post) this has been moving steady-Freddy, not even challenging its short-term trendline. You can see where the rounded top almost broke down (horizontal line), but all Powell had to do was pick up the phone.
No, this isn’t an anecdote about a former wife. For all recorded history, no one in the Knight clan has ever been divorced. Instead, it’s about my star holding in crypto-land tonight, the ICON Project, or $ICX:
Blind Squirrel mentioned yesterday that we’ve had well over 300 trading days without a single 5% pullback. Pathetic, isn’t it? What words leap to mind? Here are some suggestions: manipulated. Fraudulent. Fake. Canard. Illegitimate. Inorganic. You get the idea. Here’s the intraday chart of SPY for many months. Totally, totally under the thumb of that treasonous bastard Jerome Hayden Powell and butt buddies like Robert Kaplan who was actively trading the markets (and even equity futures!) while his friends were actively pumping trillions of dollars into the “market” to guarantee profits. These people are all criminals and should be put away for life.
Our usual Italian deli sandwich, in better times: Bresaola, arugula, sliced Parmesan, olive oil, and fresh-squeezed lemon juice, on Italian bread.
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