I’ll begin today not with a prayer but with a quote which I think is quite germane for our times.
“The result of a consistent and total substitution of lies for factual truth is not that the lies will now be accepted as truth, but that the sense by which we take our bearings in the real world is being destroyed.” — Hannah Arendt, Crises of the Republic (1972)
With that in mind, here’s with the /NQ is doing relative to the comic mega-spike of Monday morning. This deceit has been about 80% reversed so far (irrelevant to the Trump clan, who already secured profits on their long ES/short CL positions).
The global manipulation of the markets by way of social posts is working, however.
He first cleaned up with various crypto schemes, and now he’s doing the same with the futures markets. Maybe hanging out with Elon has made him jealous since – – and this puts things in perspective – – even at these levels, Trump’s net worth is 1% of Elon’s! Kindly take note of the inflection point that took place once he commenced this disastrous second term.
For little old me, however, I’m at least pleased to see red all over the place this morning, as the markets slowly but surely break down, at least until the next lie rolls around.
This breakdown is even more clear with the S&P 500 futures.
The template we seem be following is:
- Monday: mega-rally
- Tuesday: continuation of rally
- Wednesday: begin to flame out and falter
- Thursday: sell-off resumes
- Friday: sell-off accelerates, ending the day with a crescenco
- Saturday: more bearish news, creating talk of Monday crash
- Sunday: brazen lies offered about imminent peace before markets re-open
Rinse and repeat.
Indeed, the good folks over at DB have come up with a pressure index to speculate with Trump’s temperament simply can’t take the pressure anymore and he does his TACO thing.
It is calculated based on his (plunging) popularity numbers, inflation data, the change in the S&P, and the Treasury yield. This index is way above where it was a year ago when he did his mega-TACO on so-called Liberation Day, but the difference this time is that Iran has to play along, and they’re not even about to do that.
Thus, the demonic old twat is probably quite flustered.
I’ll share one last insight with you before I grab the leashes: a Bitcoin analog, and it’s quite a good one. I would like to suggest to you that the arrows represent our You Are Here moment. I would go on to say that if this is true, Bitcoin will soon begin a free-fall and will drag equities right along with it.
Thus ends our morning sermon. Bless the bears, bless God’s diligent servant Tim Knight, and long live Jambi.
