I’m sorry this post is on the late side. The excitement of yet-another-dog (albeit temporary) in my life has occupied quite a lot of time. So – – on to the business at hand.
I hate to say it, but tomorrow is a make-or-break day. At the risk of being simple-minded and dichotomous, I think tomorrow we either (a) begin a meaningful new counter-trend rally or, God willing, (b) have the kind of shock event which, at long last, sends the /ES vaulting beneath support. If I had any sense, I’d be scared to pieces about tomorrow morning, but I’m oddly sanguine.
Below are fifteen charts of key ETFs. I’ve got a few things to say about each one, which I’ve put in the caption area. The first three will get us started, and the final dozen are visible only for paying members. So here we go.
I remember that Robin Williams once said if alcohol is a crutch, then Jack Daniels is a wheelchair. I feel the same way about China, in the respect that as bad as worldwide equities have been, China has been absolutely horrendous. It is literally equaling the level it was at when George Bush was President. Fifteen years, and absolutely 0% returned.
In closing, I would like to remind you (and myself) not to read too much into the immediate reaction to the CPI. Last time it came out, the market shot higher for a short while, after which it came absolutely beaten to smithereens. Thursday morning could be one of the most trying periods in weeks, maybe even months, for all of us. Good luck to us, one and all.
