Same old same old: the market shows some after-hours weakness and vulnerability, and by the time a new day rolls around, it has healed itself right up, ready for worry-free multiple expansion. (The latest excuse, which I’m seeing everywhere, is along the lines of “Apple and Tesla have been getting killed; just wait until they stop getting killed!”)
Thus, the US dollar continues to collapse toward the value of toilet paper, as purchasing power is destroyed.
![](https://slopeofhope.com/wp-content/uploads/2024/03/usds-640x582.png)
Meaning that bonds are strengthening.
![](https://slopeofhope.com/wp-content/uploads/2024/03/bindsy-640x581.png)
And gold is racking up yet another shiny day.
![](https://slopeofhope.com/wp-content/uploads/2024/03/gikdagaun-640x450.png)
These fake-outs are irksome (or delightful, depending on your point of view). Below is the /NQ, for instance, which slipped into a triple digit loss last night but, lo and behold, managed a multi-hundred point turnaround without even breaking a sweat.
![](https://slopeofhope.com/wp-content/uploads/2024/03/Snap53-640x460.png)
As a side note, I did finish up Fourth Turning is Here last night, and I hope to write a post about it today.