Thursday Show Note: Addendum

Below is the same chart I showed prior in the day, only finishing into the close. As I stated prior, it appeared the best the algorithmic-buy-bots could muster all-day-long was to ping pong back and forth unable to find any momentum to push higher. Again, as I also stated in the show – this is a characteristic that expresses exhaustion for further buying. A very (or at least used to be) strong indicator that things may have run their course. To wit:

(Chart Source)

With tomorrow’s (Friday) CPI (consumer price index) to be announced in the morning before the “markets” open, if it comes in as the vernacular goes “Hot!” Then this will be the first frightening signal that said “markets” will need to adjust for and fast. i.e., It will all but be assured that the Fed may indeed quicken the pace and amount for reducing QE (quantitative easing) and hiking interest rates even sooner.

Tomorrow’s going to be an interesting day I feel.

And for those that listened to the show today and think “Was that all there was to that fire and brimstone warning?” The answer to that is – absolutely not. That was just the set up, part two on Friday is where things really get interesting for those that want to know.

See you then.

© 2021 Mark St.Cyr

Note: This is not trading or investing advice of any sort. This commentary is for “big picture” discussion purposes only. Please read, or re-read the “About This Site” page for any questions or clarifications.