TEXT BOOK month move. Great July, slip/slide August. Absolutely NOTHING to indicate any danger zone. Thurs/Fri the all important INFLATION data. I expect it to stay tame simply because CHINA is in a deflation spiral.
Every single indicator is still in a tight range bound scenario. Bonds, Dollar, Oil.
Let me put it to you this way. Earnings were slightly better than expectations and we went for a 7 percent expected DROP to only 5! WOW! Lets talk NEXT quarter.
It is expected to be FLAT. Yup no earnings gain and if they beat by 1 to 2 percentages the street will cheer!
ONLY with projections made in October will we see any significant moves. I see a weak August, strong Sept/Oct. Weak November and attempt to catch the highs in December.
Now looks like January is the best case scenario for a dramatic drop.
So there is only 2 things to watch for: Inflation data and earnings. Both have the odds stacked in the BULLS favor for now.
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All this is happening while it looks like the clock will run out for jail time for trump before election day. The ability to shrug off the most damaging historically significant event since the Civil War by totally ignore the obvious. A trump win will completely dissolve this republic and change forever our democracy. How anyone can't see this is like dismissing 4 indictments based on the premise that your own eye, ears, common sense and ability to reason above the age of 5 has been taken from you. The political arena is as two sided as if trump never got indicted and events on TV never took place.
My point! if we can cheer on trump today we have lost all sense of right and wrong but more importantly lost out ability to stop running when a cliff is in front of you. We will fall over on all levels.
2024 we might survive intact. 2025 will usher in Trump/GOP takeover of the nation, war and martial law to prevent Georgia from jailing trump. This is so freaking obvious but hey i pointed out what already transpired and at the time was called a kook. Still am by those that can't see reality for what it is.
AI
