In fairness – although no one has a clue about that, anymore – the market had already rallied to a potential key-reversal level Tuesday and Wednesday. What many simply forgot was the old saying “Beware pre-holiday rallies.”
One holiday is “unofficial” – Father’s Day (like Mother’s Day), as notes Wikipedia:
We should all remembers that Monther’s Day dates from 1907.
The OFFICIAL holiday is Juneteenth – this Monday.
Stock market will be closed, along with banks and no bills showing up in the mail. This weekend is only the third official Juneteenth:
“Deriving its name from combining June and nineteenth, it is celebrated on the anniversary of the order, issued by Major General Gordon Granger on June 19, 1865, proclaiming freedom for slaves in Texas.
Democrats led by (non-dictator) Joe Biden
made-up signed us up for the National Holiday in 2021.
Juneteenth is, in our view, key to marketing “division politics.” Yes, of course,, the original Juneteenth was a remarkable day. However, it has become highly politicized; dividing Americans against one-another. By substituting “equity” in lefty-speak. The correct term is “EQUALITY.”
Oh, and just so we’re clear, the democrat party wasn’t even around during the Civil War. But you know who was?
“On June 16, 1858, accepting the Illinois Republican Party’s nomination for the U.S. Senate, Abraham Lincoln said the slavery issue had to be resolved, declaring, “A house divided against itself cannot stand.”
17 Ure family males lost their lives to restore Equality under the Constitution. I daresay we’d go it again.
But our “deal point” is EQUALITY. Equity is lefty-speak for “new and improved racism.”
Juneteenth – and what politicians say this weekend – should be revelatory for informed readers. A chance to remember past mistakes but also see the con men who’ve swapped out American Values for whatever this is, that we’re becoming.
Takeaway: Imprecise definitions are still the meat and potatoes of despots in office and out.,
Bait and Switch
Wailing and gnashing of teeth – with long tirades against “racism” and “injustice” with plenty of lingo-language sauce smothered on – is just ahead. Because – as Pappy used to explain – “The nut doesn’t fall far from the tree.”
Therefore, appropriated victimhood will be levered to keep people from talking about, what?
We’re debating an Office Pool here on the ranch: Will this be the first presidential election where two wannabes could be in jail at the same time?
We noticed the futures were heading south after the manic post-Fed rally. Our Aggregate Index view of stocks is clearly in a position where a great downside reversal into a massive Wave 3 down could arise at the drop of a nuke:
In our work, closing numbers today in the area of Tuesday and Wednesday’s close would put the weekly close at the same Fibo retracement. Which frankly would be surprising (almost too much to ask for!).
Still, if the S&P closes after a decline today in the 4,370-ish range, we’d take extreme caution holding any long positions over this three-day weekend.
Since the (pathetic, crooks – of both parties) agree to suspend the U.S. debt ceiling, the money-printing has been on a roll. Today federal debt? $31,954,447,260,177.67 as of Wednesday.
Rolling over $32-trillion ought to be along, shortly, we reckon.
They’re going, going, going… Teamsters will likely authorize a UPS strike Friday.
We figure to have the last of our Amazon “necessities” keyed in by 9 AM. And we are not alone: Crunch Time At UPS With Strike Looming | Barron’s (barrons.com).
Plan for the Web Going Down?
Our oak clustered military affairs guru, warhammer, offers some useful looks ahead:
Cyber attack and it’s insidious nature have been analyzed, planned and war gamed for the past several decades. American industry? Maybe not so much.
We can be 100% certain that the PRC will move to degrade or take down U.S. cyber-dependent systems during an opening salvo to any conflict, particularly one involving Taiwan.
What can ‘Jane and Joe Sixpack’ do to prepare for life without electricity, power, cell phones, overnight express deliveries, the internet and the collapse, hopefully short term, of the national supply chain?
Ure column over the decades has offered much advice on this topic. It might be time to dust off Ure archives and point readers in that direction.
Si vis pacem, para bellum (if you want peace, prepare for war).
There’s actually a fair bit of prepping that can be done. Test-run and load test your backup power source. And we replaced all three of our short-term (90-min) UPS batteries this week… During the first hour or two of Grid Hard Down, we should be able to keep calling friends with the IP/MagicJack combo by consigliere insisted we install.
I can hear it now: “Hi George and Elaine calling. What do you think of the cyber attack so far?”
Snip and Quip Time
About an inch of rain overnight here in East Texas. Sets up Saturday on the mower. Much worse up north of us where Tornado devastates Texas Panhandle town, killing 3 and injuring dozens.
Pull out the stops to piss-off Russia to spin the public off the Hunter probe if necessary? Media: Biden allegedly supports simplified procedure for Ukraine’s NATO accession. Wag the dog, anyone?:
Trying to hold $25,500-ish, BTC has fresh hype going for it: Game-Changer: BlackRock Makes Historic Move, Applies for Bitcoin ETF – Will Bitcoin Surge to $100,000?. But wait! Did they miss Bankrupt cryptocurrency fund Three Arrows Capital’s NFTs fetch $10.9 million at Sotheby’s?
At least war remains predictable: Ukraine updates: Explosions in Kyiv as African leaders visit.
ATR: Publishing Schedule
To the point here: Charts only in Peoplenomics tomorrow. ShopTalk Sunday column will focus on a 3D printing mystery. Yes, a column here Monday, since we think the world is ripe for a left field event.
Have a marvelous three-day weekend.
Keep it “Indivisible with Liberty and Justice” for all. Equality would be nice, too. Two wrongs don’t make a right.