Greetings from California (the Northern part, which isn’t on fire). It occurred to me that I am in the midst of seven consecutive weeks of interruptions. Starting in December we had Christmas, then New Years, then Mourning, then travel, then MLK, then travel, and then travel again. Insane! I guess it’s hard for me to garner the kind of respect I have for Juneteenth toward these lesser events.
Thursday was a bore, obviously, but while other financial sites do about 3 posts per year, ol’ Tim is made differently. I didn’t get to 40,000+ posts for nothing, you know. We see that Bitcoin is slicing down hard, having made the preposterous six-figure level a few days ago. We’re down $16,000 from its peak in December, and the action can REALLY get going if we break the psychologically important $90,000 line.
As for the stock futures, they are down nicely as of this composition. The /ES has been slipping for the past few trading days…………
……which the NQ is doing the same, down about two-thirds of a point as I am typing this:
The only market-moving event is going to be the jobs report on Friday an hour before the opening bell. Why do they even BOTHER calling it the Non-Farm Employment Change? What is this, 1863? How many FARMERS are left anymore? Twelve? They seriously need to stop this. Why not the Non-Coopers-and-Blacksmiths Employment Change? Anyway……..now that Biden has lost, let’s see if we get an honest report. (I doubt it; as NYUGrad has pointed out, the ACTUAL unemployment is about 24%).
Of course, thanks to DEI, some folks are quite gainfully employed and are earning kudos doing it!
