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Your math formula of the day is Thursday=Wednesday.
It was honestly identical. Red futures in the morning. Red-hot inflation report. Futures sink. Then, half an hour into the trading day, it was straight-up from there. NQ ended the day bright green. All the same, my portfolio gained value yesterday and today, so blow me, P.T.B.
One flicker of hope is that the /ES closed precisely at its Fibonacci (and on the correct side, which is to say, beneath it).
The economic database in SlopeCharts is positively vast, and I was curious what we had in terms of Produce Price Index. Well, it goes back to 1913! Check it out:
Since I have no buying power left, and I refuse to tempt fate by pouring more cash into my account and expanding my risk, I’ve been – – what else? – – looking at charts.
As I was doing so, I thought I was looking at GME (as discussed earlier today) but it turns out I was looking at AMC, the effectively-bankrupt theatre chain which, like Gamestop, has become a meme stock. Below is the lifetime comparison of these two. Remarkable, isn’t it? They’re like twins!
They just refuse to accept it. Look, bulls, this ain’t 2009. This ain’t even March 2020. It’s OVER. It’s DONE. The Fed doesn’t have your stupid backs. This market is going to spend a LONG time falling, and falling, and then falling some more. So just stop fighting it. You’re embarrassing yourselves.
