Well, there goes the trading week. At least the nation got to completely cease its productivity, ability to do banking, and almost all government services to focus on contemplation, reflection, and the composition of thoughtful essays. I was going to post a bunch of videos from X.com but I think I’ll just turn my attention to the charts instead and just let people have their little play-pretend fantasies.
As of this writing, half an hour before the opening bell, the market is doing absolutely nothing. The /NQ is literally unchanged (a 20,000+ point index and a change of 0.00) while the /ES has collapsed eight hundredths of a percentage point. They’re going to keep this fakery going until election day.
The biggest news of this fractured week is that semiconductors may have finally run out of their mojo. Following the final orgasmic burst on Thursday morning, prompted by the Elon Grok news, this sector has sputtered into net nothing for the week.
Because, I must say again, I’ve been doing this for decades, and this entire AI fad (and the global bamboozlement of the investing public) is going to make the Internet crash look like child’s play. This is nothing short of idiotic:
