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Show Me the Money Jerry Circus Day 3/22/23

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Today is the day where Jerry and the Rate Makers aka the FOMC gang, threads the needle, and lets us know not only the new rules of the new game, but its name. One thing is for sure, the name will start with "Not." Because if there's one thing that the Fed does exceptionally well, it's denying the obvious. Or at least that which is obvious to anyone paying attention. 

A thought occurred to me. Has there ever been a time when cruel authoritarian government didn't arise from excess money printing. Seems to me that we've been there, done that, before, and that that's where we are headed again. 

Sad, Jerry. Sad. 

The hourly chart of the ES, 24 hour S&P 500 fuguetures is STILL in a bullish pattern. It's chewing away at resistance at 4011-16. The 5 day cycle projection is now 4070-75. The market seems poised for another Fed resubstantiation rally, regardless of what Jerry says at this afternoon's FOMC Dog and Pony show, and media circus. We will watch in awe as these clowns tiptoe and dance around the pile of elephant shit that they've piled up in the center ring. 

What a dystopian nightmare we are living. 


More later.

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Many have been vocal about the foolishness of excessive money printing and skyrocketing debt for a long time, but the consequences had not started to show up until fairly recently, so those folks were (and for many, still are) regarded as crackpots and losers.

Unfortunately, if they do bring the whole house of cards down, Society does not seem to be as willing to play ball with each other and wait politely in lines today as they did in the 1930’s.  The authoritarian ways that have gripped (or re-gripped) half the world might tempt some in a situation like that.

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The 13-17 week cycle projection has risen to xxxx. That implies a long term high base breakout ahead. Shorter cycles are due for a breather first. I’ve added another mining pick to swing along with two already on the list.

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Fed gave no guidance at all on the BTFD program or the daily currency swaps. 

That's where the game is now and they are playing it in a dark stadium with no media coverage. 


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6 minutes ago, MisFit Kid said:

QT my A$$.....especially if you include Japan, Et al.....and Gary US Bonds🤪



That was the$300 billion that went out the Dickscount Window and to bail out the Silly Con Valley Bank and Signature Loan Bank. It wasn't QE. While it is growing the Fed's assets, loans don't have the same effect as buying outright from Primary Dealers.

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