The Chevrolet Camaro is dead once again!
https://www.roadandtrack.com/news/a46146387/chevrolet-camaro-production-ends/
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Show Notes
Summary of the day
IMPORTANT. This entire FOMC induced rally is being engineered. One day after Powell speaks and says the fight is not over, while wall st interprets it as the Fed Pivot due to dovish dot plot, NY fed goes on CNBC and says we are not talking about cutting rates.
This is about wall st bonuses. CEO bonuses. Fund Manager Bonuses. They are measured on increasing shareholder value. Higher price means bigger bonus. More secret lovers. More Ferrari’s. Another house in North Fork or Incline Village.
More importantly, the fact wall st is telegraphing rate cuts is inflationary. When and if inflation rages, who will believe The Fed has the tools or courage to fight it with 9% plus fed funds rate?
No one is managing risk amymore. Everyone is leaning to one side.
Be fearful when everyone is greedy.
Breadth
735 new highs
124 new lows
32% advancing 63% declining
21% below 50 day ma
34% below the 200 day ma
Stuck out
We are just drifting
Strong
Tech
Weak
All other sectors
What to watch
USD and currency pairs
Inflationary Commodities. Are they rising?
Like Oil
Watch mag 7
Watch yields
Economic data
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