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S&P Chart Finger Insertion Pattern

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We have an incredible discrepancy between the media and twitter narrative of an incredible recession vs stock market quotes.

Poland's blue chips index WIG20 priced in dollars (WIG20USD) has gained 80% and the EPOL ETF has gained 70% since the October 2022 low.

It's hard to be pessimistic. According to anal cysts, this is the best start for the Polish stock market since 2002.

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gold - gold cross

Many posts recently have pointed to the effect of the reversal of the downtrend which is the appearance of a golden cross formation on the daily chart. It so happens that the intersection from the bottom of the SMA200 average (red) by the SMA50 (blue) can also be seen today on gold. The price of precious bullion is struggling for the second consecutive day against resistance in the region of $1880. So far without success for the bulls despite the weakening (until yesterday) of the dollar and the decline in US 2-year yields. If the bulls would nevertheless succeed in dragging gold up, the level of $1900 with a Fibo of 61.8% may be a more difficult barrier to pass so on the march.


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People are buying January 2025 Fed Funds futures? Fed funds are overnight bank to bank loans, and it's a completely arbitrary fake rate. When there are excess reserves, almost no one needs to borrow Fed Funds. They are fake trades on nothing. How do Fed Funds futures differ from cryptocurrency, for example? It's merely a means of gambling on nothing, seems to me. 

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