The Golden Lounge

[gdl]

Pretty grim news today. inflation catching hold, jobless rate lowest in decades, Durable Goods orders negative and PCE at the 4.5% projected.

Dollar still rising now at a good clip, 10 year struggling to stay below 1.75% and OIL is staying in holiday bite mode.

BUT seasonality is allowing at least temporarily for the market to stay relatively calm with small losses so far in SP500. Frankly the accelerated deterioration in the fundamentals for this market at such extreme valuations begs the question why is sentiment still very high.
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As an aside the Arbery case is likely to wrap up today or in the morning of Thanksgiving. No one wants to stay locked up thru holidays and that will be the biggest incentive to compromise.