The first – and most important point – is that the Asia markets which all the other pundits have been warning would be going over the cliff not only didn’t collapse overnight, but they actually looked pretty good.
Take for example Japan: Up over 7% (as pretty nifty trick) and while China’s Shanghai was flat the Honk Kong index was up 3.27%.
France and Germany are up almost 3% and the Brits are up two and a quarter percent.
Hardly end of the world stuff, I think you’ll agree.
This weekend we went through a lot of charts over on the www.peoplenomics.com side of the house, but the bottom line is that while there is a bearish count, my friend Robin Landry thinks we could jump up a bit from here…but the real battle line will be 1,950 on the S&P.
You see, it’s pretty common for the markets to decline below key support and then rally back to (and slightly above) support.
But it is there that we find out if we are into the (delayed appearing) fifth wave. Or, if this kiss and die mode of the market in a major depressive run-in is in play.
Either way, for the next week or two, the sunshine should come out – thawing both the eastern part of the igloo as well as the moneyed types on Wall Street.
For for now, sit back, enjoy the flight, and hope the pilot comes back soon.
Still, Ures truly is not to upset – it just means the fifth wave if/when it comes may bring us all the way to the fall of 2017 before things really come crashing down. If so, we will get new highs first,
I will get to fly an airplane for another year, and then we batten down the hatches…
How About a Nightmare, Shall We?
I woke up chilled and sweating at the same time about 3:45 this morning. My brain was on fire with an all-consuming idea…
Would president Obama do anything so audacious as nominate Hillary to the Supreme Court seat left open by the death over the weekend of high court justice Antonin Scalia?
“That’s about the most plum loco thing you’ve ever written, Ure…”
Whether it is or isn’t…think about this:
- Hillary is a lawyer. I don’t know how good she is…been a while since she’s done anything useful with her law degree except maybe plot email intrusions and keeping a safe distance…
- She would get completely off the email rap.
- This would leave Bernie to kick butt without getting the demos all divided like the republicrats are.
- The demos are already sending out emails to raise money on the pending nomination and money…shoot, that’s Hil’s strong point.
- Say, did I mention Hillary is getting nervous as in Nevada?
Do I think Obama is dumb enough to do this? Maybe. That would put two socialist leaning people in positions of power…and that would further his agenda of reshaping America into something it was never going to do. (You fill in the blanks, comrades…o))
The way I see it, the Obamanistas are in a position here to offer Hillary a deal of a lifetime. IN return for donating most of her IGG (incidentally gotten gains) from happytalking Goldman and the like, she would get a SupCo nom and that would keep peace in the party, trim back the Clinton fortunes and roll them over into the democratic coffers and everyone goes away happy.
Crazy theory of mine, but I’m sticking with it until Obama has a better idea. (That’s been a long wait… And since he’s keen on really bad ideas, this would just be a capper…)
From Our News Analyst
Yet another excuse for government to license the web – when it cuts into corporate cash flows:
Dear Mr. Ure,
This “Science Alert” report advises that a Russian academic is laying siege to paywalls of 130 year old medical and science journal publisher Elsevier. One wonders if their parent RELX in London will defend vigorously at the moat, or wheel the business model into the barber-surgeon quarters for a haircut and bloodletting. Sound the trumpets and let the joust begin. http://www.sciencealert.com/this-woman-has-illegally-uploaded-millions-of-journal-articles-in-an-attempt-to-open-up-science
Imagine that…release of documents by a Russian. Plays to web licensing rather suspiciously well, does it not?
Short Takes – Run-up to War Dept. And “Tits” Up
Since it is a holiday and neither of us should be working, let me go into lazy mode for the rest of it>
Ukraine bans Russian cargo trucks in tit-for-tat move (This is only part of the complex equation in the area, but any time there’s a story about tits, I seem to get interested – the tats are incidental unless they go in opposite directions… .
I’m only partly joking here. I’m not the only one out tit-watching on the web:
Even in India: Mullaperiyar in Kerala budget- DMK wants tit-for-tat TN budget. Wonder who the cameraperson would be?
And even the scientifically correct Scientific American has been caught in the act with a story about how The Great Tit Chooses Love over Food.
Don’t we all until we’re 60 something?
Now, in all seriousness (or at least some of it): When we see a flurry of words that may be see as having some innuendo of a sexual nature, we begin to suspect that the net is programming us for something. What? My sense is a rally and a period of “now it’s OK to feel good…” Until the next time it’s taken away from us.
And on that note, I have no business being here, but that also applies to about half the people in Washington so let’s call it a holiday and gather round the monitors tomorrow.
Here…go spy on someone…