Mr. Market isn’t very happy right now. When I walk the streets of Chicago and talk to people that I meet they are hopeless. There is no way out. A growing sense of impending doom is on the minds of everyone.
One person told me yesterday we need a good Democratic candidate.There will be no such thing. There is no one in the Democratic party that thinks much differently than Obama. Creeping socialism isn’t a policy for growth.
On the other side, no one is really jazzed about the Republicans either. You can punch holes in each one of them-but they are all better than the current occupant of the White House.
The headwinds are huge, and the fiscal policy response by Obama was the exact wrong medicine to try and get us through the storm. Technicians that I know are extremely bearish.
Look out below next week. Most big market ($SPY, $ES_F) declines happen in October.
SPDR S&P 500 Price Stock Chart by YCharts
($QQQ, $NQ_F) The Nasdaq hasn’t fared much better. It might lead the way down.
QQQ Price Stock Chart by YCharts
The fat lady is singing.
Indiana is offering $CME 150M/yr tax break to move headquarters. Florida, Texas, and Tennessee are also suitors. CME has never said anything about Indiana before(to my knowledge). Illinois legislators better make the state tax free for CME or lose them.
Recommended
Handicapping the Supremes on an Obamacare ruling.
The SEC on market structure. Refusing to acknowledge fragmentation as cause. Blaming it on fat fingers!
70 kids. Maybe this is why our government is so screwed up. All came from the same donor!
Real map of the US.
Stock buybacks are Keynesian
Huckabee? He hasn’t a chance. This is not a social conservative year.
Raghu Rajan says banks will lend again. I thought they already were according to Congressional testimony. But it must be only to the US Treasury.
Why North Dakota is booming. Also has low taxes.
Watch the Gold-Platinum spread. ($GLD, $GC_F)
With the outbreak of listeria in cantaloupes, and the recall of romaine lettuce. How safe is the US food chain?
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