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Just a couple of charts worth noting. First is Tesla, which has been the weakest (literally 500th place) of the S&P 500. This won’t help: it is sinking toward multi-year lows, bound as it is by powerful Fibonaccis which I’ve been pointing out since JFK was shot.
Good morning, and welcome to the first day of the quarter in which we don’t have to endure lame April Fools jokes, especially from companies that think they’re being cute.
It’s a sea of red out there, which is a welcome change from the ridiculous, debt-fueled, and totally unsustainable mega-rally of Q1. I’ve marked in the next three charts the huge surge on Sunday when futures opened, egged one by the fake PCE number which “traders’ hope the Fed will use as an excuse to slash interest rates. here we have the /NQ……
