April 18, 2011 marked the birth of my Blog.
Thank you to all who've visited my site and for your kind E-mails since then...they've been great!
As well, many thanks to the editors of the following sites who've generously published my articles over the years...(and to the creators of many other sites who provide a link to mine)...
I'll see if I can keep it going for another decade...cheers and good trading! 🍹😊
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| © Strawberry Blonde's Market Summary |
U.S. taxpayers will have to cough up more of their earnings over the coming years under President Biden's unending bloated spending spree (including his proposals outlined in his Fiscal Year 2022 Budget, which was unveiled on Friday, May 28...U.S. equity markets remained gridlocked on the news).
As if their existing $225,310 debt per taxpayer, together with increasing inflation burdens, wasn't enough! 😕
When will taxpayers say enough is enough and demand more fiscal responsibility, accountability and transparency from their lawmakers...especially their President, if he can unstuff the ice cream from his mouth long enough to answer serious questions?
Oops...U.S. VP Harris caught 'red-handed' during this "icky" faux pas moment with South Korean President Moon...
It seems that President Biden's agenda and policies (executive orders, executive actions, and partisan laws passed by congressional Democrats) are rife with systemic race and gender discrimination...towards white males...and the courts are ruling against that, as described below pertaining to COVID-19 relief.
No doubt, there are, and/or will be, many other court cases in the works pertaining to other situations where discrimination policies have been enacted.
It's an odd position for Joe Biden to take, considering he is a white male...as are many in his administration. How long will his white male (and female) voters' loyalty last? And, why is he dividing America...in direct contravention of his "unity" speech that he gave when he was sworn in as President? 😕
Finally, how long will U.S. markets remain strong and solid if the President weakens the country, particilarly its economy and national security, as well as the well-being and morale of his citizens, with his divisive and punitive actions?
The S&P 500 Index (SPX) is in a precarious spot, as I outlined in my post of May 21, so Biden should immediately change course and abide by his sworn oath to protect and unify, not destroy, the country and strengthen it in the process.
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| Source: The Hill |
Looks like a bearish diamond formation is revealing an apex around the 4150 level on the SPX, as shown on the following daily chart.
A break and sustained hold below could send the SPX tumbling to 4000, or lower to its next support level at 3700.
Any convincing sustained move higher, will be dependent upon the SPX:VIX ratio meeting the following conditions (daily ratio chart below):
* See UPDATE below...
Further to my post of April 10 (and subsequent updates therein), BITCOIN dropped below the lower moving average of the William's Alligator on Thursday to a low of 35,198 (after plunging around 45% from its April 14 high of 64,374), as shown on the following weekly chart. All three moving averages (offset into the future) are curling down... signalling further weakness ahead on this timeframe.
A drop and hold below 35,000 could send price plummeting to 30,000, or even lower to 20,000.
Volatility has spiked and is still rising to new highs in this "klepto-currency," as represented by the ATR indicator (shown in histogram format with a value of one period).
As I write this post in Thursday's overnight trading session, price has bounced back up into the Alligator's jaw (AKA its chaos zone...in between the upper and lower MAs). I expect to see large whip-saw swings in both directions until traders decide whether to "love or leave" BITCOIN once and for all. However, their allegiance in either scenario may be "transitory," to borrow the Fed's current characterization of "inflation."
Watch for the upper moving average to move below the middle one as a clue that the first downside target (30,000) may, in fact, be hit.
Otherwise, BITCOIN will need to break and hold above the entire Alligator formation, if it's going to move to new highs with any conviction.
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| May 20 |
* See UPDATES below...
Judge for yourself...
Why would China brag about deliberately causing such a world-wide catastrophe when their own vulnerable Shanghai Index is perched at a precarious level, above which it hasn't been able to hold for any length of time since 2007?
By the way, did any of the global leaders realize that China had launched a "biological war," as declared?
More importantly, are any more such "wars" imminent? If so, how will global leaders deter such an assault from the Communists?
Perhaps if President Biden's military/national security personnel learn to clap on demand, they'll figure out a way to win, or even prevent, the next "bio-war." 😏
Source: ZeroHedge
* UPDATE May 22...
Interesting COVID-19 virus origin update from Fox News host, Tucker Carlson...
I last wrote about the US10YT in my post of April 8.
Since then, it retested the 1.50 level, reversed, and is now attempting to extend its rally in an effort to reach 2.00, or higher, as shown on the following weekly chart.
As long as it holds above the upper moving average of the William's Alligator (1.58), I'd say there's a good chance it will reach that level. The Balance of Power has shifted back to Buyers. I'd like to see the Awesome Oscillator turn green to confirm that support for a higher yield is sustainable.
Keep an eye on inflation for clues, as I've described in detail in my post of May 13 (and subsequent updates noted therein)...inasmuch as longer-term inflation will, no doubt, have an impact on 10-year treasury yields...particularly, as the Fed is beginning to admit that it may not, in fact, be "transitory," as they've been trying to peddle.
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| May 19 |
* See UPDATES below...
Uh oh...Wednesday's U.S. CPI and Core CPI data shows that inflation has dramatically spiked -- to numbers not seen in multiple decades -- as shown on the graphs below.
"Inflation cycles feed on easy money; so the odds increase with each passing day that the new inflation cycle will not prove to be 'transitory.'"
-- Source: ZeroHedge.com
But, no one's listening in the White House...
President Biden and Treasury Secretary Janet Yellen are ignoring the negative and suppressive effect that Biden's policies, executive orders, and executive actions are already having on the U.S. economy and jobs.
Instead, the President is rushing recklessly toward enacting his party's $93 Trillion extreme far-left Green New Deal (Representative AOC's and Senator Markey's socialist "malarkey") and is already paying people not to work...one of many items on their "wish list."
As I've detailed in my February 9, 2019 article, this will not end well for Americans, or the markets...and, possibly sooner, rather than later.
Strangely, over half of you voted for this man...without even having an inkling of what policies he supported at the time. No wonder he kept his socialist agenda under wraps in his basement until after he took office on January 20! Would you have voted for him, if you'd known what he'd unleash, beginning on Day One?
By the way, if Mr. Biden wants to pay people not to work, why would anyone bother to go to school (K through 12) and university, and why should the government (YOU, the taxpayer) cough up money for those redundant institutions, unions, teachers/professors, and programs, as well as their hard assets such as buildings and real estate, etc.?
Socialism fosters laziness and ignorance and squashes the development of creativity. Why would any advanced nation want to foist that kind of misery on its citizens and degrade its economy and national security in the process?
