It’s honestly hard to believe there was a time in the history of the universe that Nvidia behaved like this:
Now, of course, it’s a TRILLION dollar company, almost entirely because of this AI insanity. It wasn’t that many years ago that there was never each such thing as a trillion dollar company, and now it’s becoming commonplace. The bullish arrogance, of course, is absolutely off the charts………
Don’t get me wrong. I do NOT screw with Nvidia. This thing is a merciless beast:
It is a totem, however, of the madness which has gripped the entirety market. Wednesday brings us our 4th (out of 8 annually) FOMC shindig. By way of the Event Markers feature, I’d like to point out the relationship these meetings (red vertical line) had with the market (SPY in particular) ever since the Rolo bottom. 100% of the time, there was an excited run-up to the big day. And 100% of the time, it slumped (sometimes just briefly) once Powell stepped away from the rostrum.
I can pretty much guarantee three things about Wednesday FOMC meeting:
- Powell will lie through his teeth and say everything they do is for the public (as opposed to the billionaires he actually slavishly services);
- They will announce no rate change and a desire to “wait and see” what happens;
- He will pledge to be data-driven (AKA response quickly to the demands of his masters)
People don’t just want a pause, though. They want a pivot. And you know something? I do too. Because I’ve got those events marked as well.
dd
