And we all awaken to a new day, and the /ES is as clear and well-defined and a pot of overnight oatmeal that we left out yesterday evening. What an inscrutable mess.
Although the /NQ is more resolute, thrusting, as required by federal statute passed in 2008, to another new lifetime high.
Which, of course, continues to be powered by semiconductor stocks (like Micron, shown here) whose valuation is based upon each of us buying ten chips every day for the rest of our lives since AI is, well, something or another, and it’s going to solve problems and stuff.
The Russell 2000 futures, /RTY, at least has a meaningful relationship (mentioned him yesterday at this time) with its broken trendline, as yesterday’s “cease fire is over” plunge has been countered with the Ctrl-Z that the market is so good at these days.
One welcome bright spot for me this morning is Shopify (SHOP), which I shorted yesterday and is behaving itself thus far.
As for my Bitcoin short, which I already chopped in half last week, the mourners are already gathering to bid this a somber farewell. It hasn’t QUITE violated the price gap yet, but by God, it’s getting closer every minute. What a shame if this thing goings kaput, but it seems nearly inevitable.
As I stated in my Light as a Feather post yesterday, I’m taking it uber-mellow this week due to travel and family stuff. That’s probably a good thing, considering the wretched and endlessly annoying state of this so-called market. It’s simultaneously numbing and mind-blowing, and I truly wonder if we’re ever going to see a downtick that lasts more than four minutes anymore.
