(For Those That Want To Know)
This is just the latest in my ongoing commentary, but is really an update to the same chart I put up last Thursday under the title “Not a good look.”
It would appear the “markets” on Monday drew an eighth card and it was (wait for it…) yes another Ace back to back to once again beat the odds of .000000000000000001% chances of it happening, clearing away those dreams of yachting, Lambo’s in every color and more.
Just like it’s done every time before. I mean, really: What are the odds?
Yet, once again, it doesn’t matter, right? Stocks only go up, right? Why even try to complicate things with thinking, let alone analyzing anything to the contrary, right? Right?!
Fair point. However…
As I like to use the blackjack table analogy, I also use another people seem to grasp, that is: The high diving board. i.e., It’s one thing to dive off the five meter platform, it’s quite another to be goaded to climb up to the 10 meter and then look down. I say again: Right?
That is, once again, precisely where we are as evidenced by the following. To wit:
The above is of the S&P 500™ as of the close today. I have made a few adjustments and added a few notations that are self explanatory. It is the same as the prior and the implications are also the same, just the difference of flopping from a 10 meter height, rather than a five.
Will it? Won’t it? No one knows. Maybe it’s “Triple Lindy” time? Either way, this is something to watch for.
As always, we shall see.
© 2020 Mark St.Cyr