The idiotic Powell Pivot rally has already been set into flames, as God intended. Resistance is hard as a rock. Here’s the SPY:
![](https://slopeofhope.com/wp-content/uploads/2024/08/SPYRES-640x357.png)
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The idiotic Powell Pivot rally has already been set into flames, as God intended. Resistance is hard as a rock. Here’s the SPY:
I’m not a tennis guy, but WOW, here’s another place where inflation has surged (although it’s great for the champs):
Here’s an example of a screw-up based on simply Too Much Going On.
This morning was rather chaotic. After five days on the road, and a lot of strenuous (for me) physical labor, I flew five hours back to my beloved Palo Alto. I got a late start (5:30 a.m.) and there were a bunch of technical issues I had to deal with on my systems. In the midst of it all, the market opened, and AMD exploded higher.
People probably thought I was insane on Friday, when Powell did his stupid PIVOT, to suggest a TRIPLE LEVERAGED BEARISH fund (SOXS) but, well, here ya go:
It’s good to be home! Let me do a quick post to get the week started. The /NQ has meandered for a while now, although at the moment (a few minutes into the day) we’re down 50 points, so, hey, I’ll take it.