Loading ...Popping The Everything Bubble
While the odds favored a hawkish cut by the FED leading to a significant drop in stocks, metals and eveything else, the wildcard is the budget CR.
If opponents can scuttle it and shutdown the govt. for two weeks, the everything bubble is probably history. Enough technical damage can be done and people won’t wait until early January to sell. It could cascade into a rout that really would just bring some balance to the bubble insanity that has been going on for the last few months.
If the CR somehow gets passed, a bounce leading into the New Year could be expected, but it would just delay the inevitable bear market, by a couple of weeks.
What does it mean when I agree with you? LOL.
No, actually I often do but not very often on charts.
Is there a no CR but we rally anyhow play?
I would really like to think Musk prevails (and we get a final leg up)
Not because I want to drop it on Trump, but my charts are expecting it.
Anything is possible but how much more upside were you expecting? Either in terms of magnitude or time?
Marginal new highs (tech at least), and 3-4 weeks maybe.
I’ll have a better read if this C wave down does indeed bottom soon after a iv and v.
If not, the larger correction is underway, down to 5200.
Is this worrisome?
https://boriquagato.substack.com/p/congressional-immunity?publication_id=323914&post_id=153323211&isFreemail=true&r=2rb1in&triedRedirect=true&utm_source=substack&utm_medium=email
It is MORE than worrisome it is a TOTAL ABOMINATION! Any member especially GOPers who vote for this should be recalled, impeached or SHOT on the spot by their constituents.
X has spoken pretty loud and clear. If so, Elon wins and we may still get that final leg up.
| @EricLDaugh
·
1h
? #BREAKING: Speaker Johnson weighs DROPPING all extras from spending bill for “clean” resolution amid backlash – POLITICO
If I were MJ, with Trump’s TACTICAL TEAM, I would have ENCOURAGED all that pork and BS, making it smell so bad, it would guarantee a huge backlash, which then gave it so little time that only the stripped down core could pass. No time left for horse trading. We’ll see. COuld be wishful thinking.
Funny, I was thinking this a few hours ago. I don’t know enough about Johnson and his history to know whether he is a closet Rhino or more likely a great tactician. I thought he might have played this on purpose to get this thing defeated. We will have a better idea about him after this plays out. If it gets pushed to early Jan. and Trump takes a victory lap with Johnson at his side we can probably conclude they orchestrated the whole thing together.
A TOTAL abomination