A national holiday Monday was part of the reason we entered a short position ahead of the weekend. In Wednesday’s report, we fretted about the odds of a large upside bolt as G20 nations are desperate to avoid the appearance of vulnerability of the global economic system to normal economic fluctuations.
Not that such things are bad. It’s just that they can get out of hand when conditions are just so. Falling confidence – suspicious economic reports totally overblowing economic strength, and prospects for a better life.
We are, as some readers have expressed it, already in a “stealth Depression” which – with all the major homeless camps and illegals pouring in – sure have that Hooverville replay vibe to this.
This being the weekend, our focus is mainly on our ChartPack. Based on the long-held idea here that a meta index – comprised of multiple indicators – can give a far more accurate view of market shenanigans than single indices.