Alternative Path

[gdl]

I look at the charts, see the irrational spike in all things both traditional and speculative and the ability to spin a very negative economic crisis into a bonus. We are so so so close to a major dramatic drop. I can see and accept a timeline that has another full month to go but what I can't do is see a continued rally. I suspect we have many drops and reversals to keep crawling back to the 3900 area in SPX. I DO NOT see 4200 ever again.

In fact the underlying structure is so fractured it is only a matter of timing the drop and collapse.

As a very analytical person that developed compute systems the foundation of this current move is as insane as driving higher during a Pandemic.
We are finding reasons to rally and they are just silly. Because of a banking crisis it relieves the world of higher rates? Relieves the stress on banking? no. Relieves the inflation pressure? no Changes the earnings path for a more favorable outcome? no. What it does do is reward bad behavior and ensure our underlying problem gets much worse.

The NO CONSEQUECE era. That little theory about to be tested soon.