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The Great Depression

  • 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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June 21, 2021

Monday A Snap Back Rally

Monday June 21 2021

Screen Shot 2021-06-21 at 3.36.59 PM

 

Look closely and you will see the SPX fell below the trendline from theMarch low.  It is now trying to get back above it, We suspect that effort will fail.

DJIA

586 points sounds impressive but the DJIA has fallen 2100 points since May 10. Snap back rallies are impressive in bear markets. But short sellers have to buy back to cover their positions and that is likely what happened today. The rest of the week will tell the story.

Screen Shot 2021-06-21 at 3.39.58 PM

And it is short of a 38% re trace which is quite possible tomorrow.

Bonds

TLT stopped Friday just shy of its 200 day MA and pulled back today.

Screen Shot 2021-06-21 at 3.44.44 PM

200 day is the short line at far right top of graph.

RSI and PMO topping.

TBF, opposite view

Screen Shot 2021-06-21 at 3.47.33 PM

Posted at 04:48 PM in Bonds, Stock Market |

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