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I cannot allow myself to end the day without a substantial post, but here we go. I wanted to share a few index charts and a few thoughts on them, even though the market is seriously a big fat MESS at the moment. We begin with the NASDAQ Composite, about which I’ll make these observations:
We’re miles away from the lifetime high;
Only five weeks ago, it was falling to pieces, but Powell has created an end-of-year mega-rally with his words;
If we do start selling off, it won’t take long to get to support; like I said, the market is a mess.