3/13/2023
EWI has made their current content available or will by end of month so I am copying this update, here is where we are
Wave one started Nov 2021- Jan 2022 and completed in June 2022
wave two traced out an A B C completing Dec 13
Wave three begins with a a crash thru the shelf of support taking all three major indexes, DJIA SPX NASD down thru support Friday
and we have a news event to validate the technicals a collapse of a couple of banks. Janet Yellen who never saw Lehman Bear Stearns coming and with
treasury, comptroller of currency, national bank and state bank regulators and yep the usual suspect KPMG issuing a clean opinion o znSVB twow eeks ago
I mean why are we paying all these people to do nothing
Looks like the flight to quality will be short lived
a rush to treasuries and then a pull back
the third of a third wave move down has begun, see andy kessler's column in today's wsj for explanation on what happened, SVB bought ten year treasuries agaist short term deposits, when the shoor termers wanted their money back friday all they could do was sell the ten years at a loss, and boom, gone like Lehman
the bear market in stocks begins in earnest now, okay team biden let's do what you suggested
watch me
Comments