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Houston, We Almost Have Liftoff of the Spaceship US Treasury Market

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Who cares about stocks when you can watch the excitement up at Cape Wall Street where the launchpad is complete and the countdown is under way for the spaceship US Treasury Market as it heads for edge of the solar system and the outer limits of the Milky Way.

tvc_49aec31e9a69b87edd883111cdd46582.png

Get the big picture here.

Meanwhile, stocks are catching a little bid this morning. What else is new? It will be interesting to see what they can do with this 5 day cycle upturn. If they clear 4712 the initial measured move target would be 4746. But if they don't clear 4712, we'd be looking for 4665 initially. Below 4658, the bottom drops out. 

tvc_308ac8787d26f658b446cca7e5f8d097.png

 

Just in case you missed this little bit of fun yesterday- 

 

Meanwhile, the big picture. 

When Boring Isn’t Bullish – Gold

It’s The Most Blunderful Time of the Year

Wheels Are Moving in Slow Motion for the Top

The Rigor Mortis Stock Market Rally

 

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30 minutes ago, potatohead said:

And the Fed has all the answers....

DALY: WE WILL NEED TO RAISE INTEREST RATES TO KEEP ECONOMY IN BALANCE

or.......

FED'S BULLARD: USING A PASSIVE RUNOFF, THE FED CAN SHRINK ITS BALANCE SHEET IN A NON-DISRUPTIVE MANNER.

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1 hour ago, potatohead said:

or.......

FED'S BULLARD: USING A PASSIVE RUNOFF, THE FED CAN SHRINK ITS BALANCE SHEET IN A NON-DISRUPTIVE MANNER.

They're so full of crap. He knows that any reduction in QE, let alone a balance sheet runoff, will be disruptive. Yellen already tried it and look how far that got. The answer is 3.2%. That's how high the 10 year got in October 2018 when the Fed started to choke on its vomit. 

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I do need to get a better mike setup for my next interview for sure. I wasn't prepared for that. I actually had forgotten the appointment. So I was sitting their unwashed, unshaven, unbrushed, and unmiked when Tom got a hold of me by email and asked if I was ready to do the interview. 

What could I do but go ahead! 

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6 minutes ago, Jimi said:

Jimi Hendrix choked on his own vomit.

I wish we could orchestrate a swap: Yellen for Jimi (and a 2nd round pick).

Toss in a Player to be named later......

Since the Fed is involved, cash considerations would be useless........

maybe some buttcoin.....pffft

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