For those still trying to affix reasons for why this-or-that regarding the “markets.” I’ll just leave you with today’s latest regarding the S&P 500™ as of this writing ~ 1:15pm EST.
First: Why the markets are rising. (This is not a dig at Jim Bianco. I am a big fan of his work, this is only to show how even the smartest of us are themselves not having any luck trying to work out the “why” in today’s lunacy driven world) To wit:
Well, OK, that seems to look right, we’re currently up now 2%. But wait! Then this hit, again, to wit:
Alright, but if the first might have impact, then the latter should impact it in a reverse way, right? Hint: Nope. The “markets” have continued to rise. But they seem to be running out of gas but are still trying to get somewhere. I wonder where that may be, hmmmmm, let me think…
Maybe this is why, once again, to wit:
As I keep saying. “It’s all just a bit too technical.” in relationship to one thing and one thing only: Fed Chair Jerome Powell says he thinks a .25% hike in rates in March, not a .5%, is more appropriate to the current market conditions.
What you’re watching is what’s known as an exasperated relief rally, in my humble opinion. And once it’s over, well, let’s just say the “markets” are going to be needing any and all of the Dylithium Crystals it can muster. That is – if there are any, which the Fed has now detailed there is not.
However, I must say, the best commentary I’ve read so far today happened at about noon time over at ZeroHedge™. It pretty much sums up everything…
As always, we shall see. But here’s what I know…
© 2022 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.