Good Lord, it’s quiet out there (more on that at the end of this post). I was just poking around with the S&P 500 chart, which goes back more than a century, and I changed it to quarterly bars. It isn’t a drop-dead amazing analog, but I’ve got to say that there’s about a twenty-year stretch of time a century ago that looks awfully like the most recent twenty years. The first 40% or so, completely wobbly, followed by a I-am-never-going-down consistency. Interesting stuff.
More compelling for me is the more detailed daily chart spanning those same twenty years. As a line graph, the simplicity is beneficial to the eye.
We own a place at a ski resort (arrow) but I decided to rent it down during this “prime time” of year; a good thing, too, because the entirety of Lake Tahoe is totally snowed in, and has been for about a week now. This map shows a huge amount of land, and the amount of snow that has been dumped in the Sierras breaks all the records. You’d think it would make for amazing skiing, but, no……….because there’s too MUCH snow, and the resorts can’t’ open!
Which all lines up with the feeling of how dead quiet it is. I mean, I understand Christmas Eve being quiet, but c’mon – – this is just amazing. You need an electron microscope to see the volume; just look at what has been going on with the SPY, which is the most important, highest-volume ETF on the planet!