The past week and into this week coming should see a continuation of the rally, we know the Fed are going to cut, only because the economy is breaking.
We watch the top red line, another 1% or so and that should be very close.
Some are calling for an everything melt up, but remember, the Fed cuts after a raising cycle and the stock market and economy tanks.
The grey shaded area on the chart, look closely, they are full of big up and down days.
We know before every major turn or severe market plunge, volatility increases dramatically.
Up days are lower volume than down days, the market sits at a dangerous position, akin to picking up pennies in front of a steam roller.
Most believe that the market will hold up until the Punch & Judy show is over come late November, the theatre of politics is for the gullible, those who believe a so called leader will improve their world… only you can do that.
Gold and silver have had another great run, expect some form of intermediate top approaching very soon, a sizeable correction coming that allows you to back up the truck again.
Risk is extreme, most are blinded by the fudged economic data, only just recently the Bureau of Labor Statistics each year revises its previously reported estimates of job creation in the United States. The revision released August 21 shows that about 818,000 fewer nonfarm jobs were created from April 2023 through March 2024 from what was previously reported, sheer and deliberate manipulation to keep the fake rally alive.
Whatever you believe, don’t ever trust or believe in Government or politicians… the short of the century is approaching.
Appreciate a thumbs up, God bless you all!