Today’s market action summed up in one song:
God I’m old.
Then again, so are the classics that one wishes to drink out of their minds.
Today’s market action from a technical perspective was quite simply:
CPI came in hot but as expected, manipulated to prevent a full out firestorm from hitting equities. The Russia-Ukraine War was contained thanks to the propaganda machine and higher gas prices are blamed on a national leader who half of America didn’t know exist until he invaded another nation that half of America couldn’t find on a map if the map was tattooed to their butts and they had a full sized room of mirrors to stare into.
Then there is today’s “market” action designed to pacify the sheeple and promote the idea that the powers that be can force down oil prices (despite reality), contain inflation (despite reality), and move stock prices to save their friends and sucker the public (that is reality).
Do not think for one moment the “bear” market is over, which will probably last for years as payback for the excesses of the corrupted past.
It’s only just begun.
Like some other bear markets or bad classics.