HDMI Has a New Meaning

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This has been a dynamite year for charting and trading, with one gargantuan exception, which is THIS grotesque anomaly:

What I’m referring to, of course, is the first two weeks of August in which the vomit-inducing counter-trend rally that started June 16th had its final puke higher. It wrecks just about every chart you can find, and it dawned me last night the perfect name for this: HDMI, which stands for

He
Doesn’t
Mean
It

The “he” I am referring to is the government employee in charge of the COMMAND AND CONTROL ECONOMY that the idiots at the Federal Reserve desire.

Because, see, numb-nuts said over and over again that he was SERIOUS about killing inflation by cranking interest rates sky-high, and people simply didn’t believe him. And why would they have? The limp-wristed, hair-dressing, antique-shopping, leg-crossing, pink-taffeta-wearing ghey-boys that pretend they are “traders” have been wet-nursed since 2008 into believing there’s no such thing as a loss. So the Dave Portnoys of the world simply can’t grasp the idea of a Fed that isn’t there to help them.

So I view all the throw-overs as things to be ignored. They are a freakish by-product of the poisoned minds that have been carefully cultivated for the past fourteen years into believing the Fed is their loving mother who wants nothing more than for Stonks To Go Up all the time.

The cool thing is that in spite of the fact that, for every one Tim Knight, there are 50,000 Tom Lees, we’re still breaking this thing down, piece by piece. We precious few are going to destroy the masses.

And, thus, the SPY didn’t even manage to kiss its broken trendline good-bye, but has been repelled at a lower level. I view that tinted area as a firm line in the sand with respect to the FOMC tomorrow.

But the idiocy will continue to prevail, as shown below. This bear market has trillions and trillions of dollars left to destroy, and I’ll be cheering it on every step of the way.