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Here's The Number the Market Loves 8/27/21

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4484. That's the approximate center of the new range on the ES S&P 500 futures.

Which looks a lot like the old range.  It's just wider. Any trading between 4488 and 4502 now is essentially noise. Not much you can do with an often crossed range of less than 1%. There are resistance lines about every 2-3 points on the way back up and only a little air to 4469 in a fall. 

tvc_871c24bc1fa8d77c29a58e1d7b812aee.png

Even when they break the range, there are trendlines and sport and resistance levels every 5-10 points to contend with. My advice to to enjoy what's left of traditional summer. 

Things should start to get interesting thereafter. 

QE Still = 100% of Treasury Issuance, But Coming Change = Crash

And for your longer term listening and dining pleasure:

This Could Be the Start of Something Big for Gold

Here are the Keys as the Trend is Intact, But on Edge

Chart Picks – 4 New Picks From Friday’s Swing Trade Screen

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3 hours ago, potatohead said:

BULLARD SAYS PURCHASES DON'T HAVE MUCH VALUE RIGHT NOW

Primary dealers think otherwise.....

Cristiano Ronaldo thinks otherwise too.........

Sold to Manchester United (Red Devils), (where he was before QE)

£480K a week salary plus "other $$$ interests/endorsements/image $)

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Maybe I'm older & wiser.

Or, maybe I'm just sour & angrier.

But today feels even more insane than March 2000.

I mean, back then, at least you could participate in "The Internet changes everything!" thesis. 

Sure, "Bitcoin fixes that!" seems this cycle's specific "Internet changes everything!" received wisdom analogy.

But there remained pockets of sanity back in March 2000: for example, you could still earn 6.39% in 10-year Treasuries the date the NASDAQ peaked.

I ask: what is the comparable security today that offers any sensible return prospect at these prices?

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1 hour ago, Jimi said:

Maybe I'm older & wiser.

Or, maybe I'm just sour & angrier.

But today feels even more insane than March 2000.

I mean, back then, at least you could participate in "The Internet changes everything!" thesis. 

Sure, "Bitcoin fixes that!" seems this cycle's specific "Internet changes everything!" received wisdom analogy.

But there remained pockets of sanity back in March 2000: for example, you could still earn 6.39% in 10-year Treasuries the date the NASDAQ peaked.

I ask: what is the comparable security today that offers any sensible return prospect at these prices?

Excellent point.

The cure in March 2000 took around 3 years.  If and when this thing finally blows, does anyone think it will recover that fast?  

 

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