The Market Perspective: Counter Trend Rally

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The Great Depression

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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Bought And Paid For

Robert Scheer: The Great American Stickup: How Reagan Republicans and Clinton Democrats Enriched Wall Street While Mugging Main Street
The former Editor of Ramparts takes on both parties and how they sold out to Wall Street that is even now partying and bonusing on their former mistakes.
Charles Gasparino: Bought and Paid For: The Unholy Alliance Between Barack Obama and Wall Street
How Wall Street Backed the Administration and Got What It Paid For

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August 03, 2022

Counter Trend Rally

Wed August 3 2022

OUr target is the previous fourth wave high around 33,250. today closed at 32,812 which is about 700 points away from that target.

SPX

The SPX is already there. A further extension would take us to 4300. Note PMO daily is at teh previous high seen last April.

Silver

Silver completed its Wave A at 20.50. It is pulling back in Wave B now. I suspect that the previous high at 22.5-23 is a realistic target.

Bonds - Like sliver the first waveeup looks done, a pullback and then another rally lies ahead.

Posted at 05:35 PM in Gold Silver, Stock Market | Permalink

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