If I told you at the start of 2020 that payrolls would be down at a 26% annual rate from the peak and that employment would be at a six-year low as of June, would you really be that excited?
@coiledspringcap Are you saying that there can be multi directional counts as long as they are on different time frames? Or just flat out Sell counts can coexist with Buy counts on the same time frame? Thanks in advanced! Appreciate your tweets :D
Essentially 100% of the S&P 500 rally and 166% of the spike in the Dow happened after the Fed announcement at 2 pm. Powell should hang a sign: "Short Sellers Straight to the Unemployment Line With the Other 30 Million"
Tang Jie, one of the very smart students in my Sunday seminar, presented the following graph in today’s meeting. It shows subway ridership this year in 30 major Chinese cities compared to the same period last year. Jie pointed out at least three interesting things about this...
Once again, the S&P 500 cannot pierce that 50-day trendline! Another $484 billion of fiscal help and this is all you get? Today’s reversal was a red flag in front of the bulls. Ole!
If anyone thinks this bounce in markets is sustainable I encourage you to look at the global demand for U.S. dollars via Fed FX swap lines. Until those swap lines recede there's no recovery coming. Far too much stress in the system.