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  • Benjamin Roth: The Great Depression: A Diary

    Benjamin Roth: The Great Depression: A Diary
    It's all here, times change people don't -the endless govt programs that fail to stimulate the private sector -the ups and downs of the economy, the veterans pension stimulates just as the housing credit did, until of course the money runs out -Roth is a attorney in Youngstown Ohio who kept a diary regarding the economy from 1930 until WW II breaks out, he is objective, candid, and forthright which is more than we get from Washington DC now or then highly recommended

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May 27, 2020

SPX 3,000

Wed May 27, 2020

Screen Shot 2020-05-27 at 11.20.42 AM

An alert reader suggested SPX 3,000 might be the first level to encounter selling.  The NASD is actually down this morning.

 

These levels reach an extended rally. Too early to call but we are watching closely.

NASD

Screen Shot 2020-05-27 at 11.27.29 AM

RSI and PMO  have been declining.  Social mood towards the market is over the top. All the bulls are even more bullish.

Yet reading about the re open, I see articles mentioning the necessity of borrowing money.  Debt caused the problem. And is the problem  It is doubtful small business will borrow its way out of the problem. I see one of the Cruise Lines issued junk bonds with a  12 % coupon. Good luck with  that.

Posted at 12:24 PM in Socionomics, Stock Market |

Comments

gary

I like your site and observations, and with plenty of respect, I am reminded of yogi bara?. Predictions are difficult, especially when they are about the future.

WEll, we keep trying.

Posted by: gary | May 28, 2020 at 02:48 PM

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