Keystone's trading robot, Keybot the Quant, flips back to the short side yesterday at SPX 4777. The quant logs another successful year and will be rezeroed for 2024 tomorrow. Utilities and commodities are running the show currently.
Saturday, December 30, 2023
Saturday, December 23, 2023
Keybot the Quant Turns Bullish
Keybot the Quant flips back to the long side at SPX 4769. The whipsaw choppy slop that is the hallmark of 2023 continues into year end. Bulls need stronger utilities and commodities to continue the rally. Utilities are currently set up to fail out of the gate on Tuesday.
Wednesday, December 20, 2023
Keybot the Quant Turns Bearish
The Keystone Speculator's proprietary trading robot, Keybot the Quant, flips to the short side at the end of today's session at SPX 4705. Bears remain in control if UTIL remains below 871 and will create more selling pressure for stocks if copper falls apart.
Bulls can redeem themselves if they push UTIL above 871. If they cannot turn utilities bullish by the end of the week, stocks are likely in for a world of hurt.
Saturday, November 4, 2023
The Keystone Speculator's Unemployment Rate Chart; LABOR RECESSION IS 2 MONTHS ALONG STARTING ON 9/8/23 AND WORSENING
Last month, Keystone announced the US Labor Recession starting in America and now it is confirmed and worsening. When the blue line is below the red line, the wine is flowing like water, everyone that wants a job has a job, and economic times are great with no recession in sight. When the red line is below the blue line, franks and beans are ate for dinner, people are laid off (fired), and a recession appears making for Hard Times.
The US housing recession is in its 11th month ready to clock 1 year at Christmastime. The US manufacturing sector is also in a recession for much of this year. Typically, housing and manufacturing, specifically, housing and autos, in recession means the US economy is in recession. Not in this new prissy economy of computers, software and programming where everyone dons a fleece vest imprinted with the company logo and their hands never get dirty.
Semiconductors are the Big Kahuna in today's economic world. The artificial intelligence (AI) orgy this summer keeps the US recession at bay. More importantly, America's wealthy elite class, and the upper middle class sycophants that service the wealthy, have become filthy rich thanks to over a decade of Federal Reserve obscene money-printing (monetary stimulus).
The chips sector and America's rich class have delayed the onset of the recession but with labor now taking the pipe, the overall US recession has likely started now. The economic data is never able to officially confirm exactly when a recession begins until quarters after it starts.
Thus, as per the chart above, It's All Over Now, Baby Blue. The sky, too, is falling over you. The chip fun is over so housing, manufacturing and semiconductors is three strikes and yer out. Many of you reading this will be sh*t-canned from your jobs over the coming months. You will be embarrassed, depressed and confused when your boss hands you a pink slip and drop-kicks you into the dumpster at the end of the parking lot. You will feel shame because you bragged to family, relatives, friends, neighbors, and anyone willing to listen, that you are a top employee and the company cannot survive without you. Prepare accordingly since you know what is coming.
The chart shows how the good times started in January 2011 and ran all the way to the start of the COVID-19 pandemic in spring 2020 with the exception of a mini one-month labor scare February 2019.
Of course, America's crony capitalism system saves the day in 2021 with the Federal Reserve printing money like madmen (monetary stimulus) and Congress providing fiscal stimulus for as far as the eye could see. The obscene amounts of easy money actually encouraged Americans not to work. It is enough to make you vomit. You twits do understand that capitalism does not exist, don't you? Or are you stupid?
The Caligula-worshipping monetary and fiscal stimuli saves the day during the pandemic and the economy is rockin' and a rollin' again, a la ELO, starting February 2021. Work takes a back seat in America as everyone enjoys easy money stimulus, parties and a free ride. Americans proclaim that a healthy work ethic is for losers. Well, jackasses, turn out the lights because the Party Is Over, as Willie sings, and the Labor Recession is underway for 2 months and worsening (the red and blue lines are diverging).
The ongoing housing, manufacturing and labor triumphant of recessions creates the overall US recession. Prepare yourself and your family. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
Wednesday, November 1, 2023
Keybot the Quant Turns Bullish
Keystone's proprietary trading robot, Keybot the Quant, flips bullish this morning at SPX 4209.
Friday, October 13, 2023
SPX S&P 500 60-Minute Chart with 200 EMA Cross; SPX 4358 Line in Sand
Bulls need the SPX above 4358 which will ignite several days of upside partying for those holding stocks long. Bears need the SPX to drop from here and prove that the back test of the 200 EMA at 4358 was successful and price will now collapse going forward targeting the prior low at 4225-ish to start. Choose your poison. She was Poison in the Well, and I drank it. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
Note Added Saturday, 10/14/23: The SPX pops at the opening bell yesterday jumping above 4358 so the bulls were walking around with chests puffed. Before 11 AM EST, however, stocks fell apart and the SPX loses 4358 falling to 4311 and closing at 4328. The ST bear market remains in play. The battle continues on Monday. The 200 EMA on the 60-minute chart bull/bear line in the sand is at 4327-4328. Check the 200 EMA once trading begins on Monday since it may adjust slightly one way or the other. Stocks are soggy into the peak of the new moon for the month occurring now (which is typical). Also, traders trimmed longs concerned about news and events that may occur over the weekend.
Note Added Tuesday Morning, 10/17/23, at 4:31 AM EST: The SPX pops at the opening bell yesterday flying to the HOD at 4383.33 at 11 AM EST then traveling flat the remainder of the day to end the session at 4374 that is above the 200 EMA at 4358. Thus, the bulls are 16 points above the critical short-term bull/bear line in the sand. Another back kiss and bounce or die decision at 4358 is likely going forward.
Note Added Thursday Morning, 10/19/23, at 7:04 AM EST: The bears come to play this week punching the bulls in the nose and taking their lunch money. The SPX collapses to 4315 (another 100 points lower to 4214 will likely create a historic US stock market crash) so the short-term bear market remains in play. Pope Powell brings the tablets down from On High today and will tell global traders how to trade. He is speaking at the Economic Club of New York. Stocks, bonds and currencies will move on Powell's words at noon time as economist elbow each other at the free buffet shoving rubber chicken and lasagna into their greedy pie-holes. A back kiss back up to 4327-4328 is on the table where the bears would make the bounce or die decision. If Powell lays an egg at munch time today, the short-term bear market will worsen and a likely test of the do or die level at 4214 would be on the table going forward. It would be historic (a crash will occur thereafter) if SPX 4214 fails (a 200 to 800-point drop and more would be on the table below 4214).
Note Added Saturday, 10/21/23: The bears take the SPX down through the 10-mth MA early warning system at 4257 and next target the critical 12-mth MA bull/bear long-term line in the sand at 4207. The SPX begins next week from the 4224 palindrome that is also the LOD Friday. Price prints a low at 4216 two weeks prior and 4238 three weeks ago. A back kiss of the 4257 is on the table. Bulls win above 4238-4257. Bears win below 4207-4224. If the SPX fails through 4207, it is lights-out for the US stock market and a major crash is likely going forward. Is it The Final Countdown?
Note Added 10/27/23: SPX is spanked down from the 200 EMA at 4358 to 4103 an important low.
Note Added 11/2/23: The SPX comes up to pierce the 200 EMA at 4275 and pops up through so it is off to the races for the bulls. It is not the final countdown, yet.
Note Added 12/20/23: The SPX prints 4778 ready to print a new all-time high but alas, it stumbles. The US stock indexes reverse intraday by -1% and more. The SPX drops to 4698. The 200 EMA is at 4583 rising sharply setting up a potential new meeting point at 4640-4650.
Sunday, October 8, 2023
UST10Y 10-Year Treasury Note Yield Weekly and Monthly Charts; 10-Year Yield Placing Long-Term Top
Yields are a big story over the last couple weeks. You can see the big jut higher in the UST10Y (TNX) yield on the weekly chart above. Everybody and his brother from a different mother say yields will continue higher forever. JP Morgan CEO Dimon, while looking around for a grandmother to fleece, proclaims 7% ahead for the 10-year yield. What is he smoking?
The long-term monthly chart is cooked in full negative divergence. There is no more juice available on the monthly basis to take the 10-year yield higher. The RSI and stochastics are overbot agreeable to a pullback in yield. The red rising wedge pattern is bearish for yields.
The Aroon green line on the monthly chart are the investors expecting higher rates forever and they are all patting each other on the back in 100% agreement that yields will go up forever. Likewise, the Aroon red line representing the traders that want yields to pull back agree 100% that yields will go up forever. No matter who you are or what you think about the direction of yields forward, everyone, 100%, agree that the 10-year yield will rise for months and months into the future. They are all wrong. The Aroon is a contrarian signal.
It is common sense that when the boat is fully loaded to one side, in this case every single person expecting higher yields for months and months forward, these folks are typically wrong. The monthly chart is nasty. Of course there may be fits and starts but those expecting the 10-year to catapult far above 5% will be disappointed.
Watch the MACD line on the monthly chart for this month. If October finishes with the neggie d in place, the top is in on the monthly basis. If the MACD line sneaks a hair higher, that would extend the top for the 10-year yield by a month or two but no big move to the upside in yield would be expected during that period.
Discussing Treasury notes and bonds is tricky since yields move opposite to price. A bond bull is a trader that expects bond and note prices to rise and when that occurs, yields drop. Conversely, a bond bear is a trader that expects bone and note prices to drop which sends yields higher. Last week was a selloff in both stocks and bonds (yields higher) until Friday when stocks rallied and bonds came in a bit (both equities and bonds were bot on Friday).
The previous charts show the housing recession ongoing this year. A labor recession started a month ago so add this to the list. The Federal Reserve is most focused on the labor picture and with the blow-out 336K jobs number last Friday everyone says a recession is now completely off the table. Wrong again. The recession is likely starting right now in real-time. The data will not confirm a recession until many quarters after the recession begins.
Thus, if yields are topping out and would be expected to trail lower from now into springtime, that means notes and bonds will be bot sending yields lower. Considering that recession is at the door and economic conditions are worse than the data reflects (the upper middle class and wealthy elite that benefited from over a decade of Fed money printing, the rich got richer and poor poorer, are keeping the US economy afloat but they cannot do that forever), and that the SPX weekly chart remains weak and bleak, the expectation would be a continued selloff in stocks going forward which would occur in concert with yields trailing lower (money flowing out of the stock market into notes and bonds (price up yield down) chasing perceived safety as equities tumble lower).
The weekly chart above has the same vibe as the monthly chart but there are differences. The overbot conditions for yield, and rising wedge pattern, are bearish for yields. All the chart indicators are in negative divergence so there is no more juice to take yields higher, however, note the thrust over the last couple weeks. There is momentum there so a bunch of sideways chop is likely ahead for a week or three as the weekly chart tops out.
The Aroon on the weekly chart is the same description as the monthly chart. Everyone, including the taxi cab driver, Uber driver, Lyft driver, the doorman, shoeshine boy, an analyst holding a coffee cup, and television pundits, universally agree that the 10-year yield will go up for weeks and weeks ahead. The Aroon is a contrarian indicator so the boat fully loaded to one side tells you it is far more likely that yields are topping out over the next week or three, around current levels, and will begin a multi-week down move in yield which will also help kick-in the start of the multi-month down move in yield.
What does all this mumbo-jumbo mean? The 10-year yield is topping-out on both a weekly and monthly basis although there is some short-term momo due to inflation and job data and Fed speak. If you bring up the daily chart, you see the indicators going neggie d but the MACD wants one more high in yield on the daily basis. Thus, expect the 10-year yield to be buoyant for a couple days and that marks the top on the daily basis (say, Tuesday or Wednesday) so yield will then retreat in the daily time frame.
A choppy sideways move would be expected over the coming days and couple weeks as the 10-year yield tops out and begins falling. The timing makes perfect sense. Equities may want to rally further after Friday's thrust higher and this buoyancy in stocks may continue for a week or two as the 10-year yield chops sideways and tops out.
Then, probably when the SPX daily chart tops out with neggie d, stocks will begin falling like rocks taking out prior lows and as the panic sets in, traders will buy notes and bonds sending yields lower. Keystone does not hold any positions long or short Treasuries now but for those of you so inclined, you can look at scaling into the TLT ETF going forward (that is beaten to a pulp) as an intermediate-term trade say into the new year. That's my story and I'm sticking to it. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
Note Added Tuesday Morning, 10/10/23, at 5:22 AM EST: US 10-year yield 4.65%.
Note Added Wednesday Morning, 10/11/23, at 5:55 AM EST: US 10-year yield 4.56%.
Note Added Thursday Morning, 10/12/23, at 7:12 AM EST: US 10-year yield 4.56%.
Note Added Saturday Morning, 10/14/23, at 4:04 AM EST: US 10-year yield 4.62%.
Note Added Tuesday Morning, 10/17/23, at 4:30 AM EST: US 10-year yield 4.75%.
Note Added Wednesday Morning, 10/25/23, at 10:07 AM EST: US 10-year yield 4.91% the 10-year topped 5% to 5.02% this week).
Note Added Thursday Morning, 10/26/23, at 3:00 AM EST: US 10-year yield 4.98%.
Note Added Thursday Morning, 11/2/23, at 7:09 AM EST: The US 10-year yield is 4.70% in retreat (yields down, bond and note prices up) after Federal Reserve Chairman Powell's news conference yesterday afternoon when rates are held steady.
Note Added Thursday Evening, 11/2/23, at 6:39 PM EST: The US 10-year yield is 4.66%.
Note Added Thursday Morning, 11/9/23, at 7:04 AM EST: US 10-year yield 4.53% and dropped through the 4.50% level.
Note Added 11/29/23: 10-year yield 4.27%.
Note Added 12/1/23: 10-year yield 4.22%.
Note Added 12/6/23: 10-year yield 4.12%.
Note Added 12/15/23: 10-year yield 3.91%. The 10-year drops below 4%. Of course it does.
Note Added 12/20/23: 10-year yield drops to 3.86% (yields down note and bond prices up). The major US stock indexes take a hard reversal intraday losing more than -1% across the board. Stocks are selling off and that money goes into the perceived safety of US Treasuries sending yields lower. Of course it does.
Saturday, October 7, 2023
The Keystone Speculator's Unemployment Rate Chart; LABOR RECESSION BEGINS 9/8/23
The US Monthly Jobs Report was a blowout 336K jobs so everyone and his bro proclaim that a recession is nowhere in sight. The recession takes up permanent residence with Godot. As usual, Keystone brings the wet blanket to the party. A recession is taken completely off the table by the Wall Street smart cats but the labor, or jobs, recession actually started 9/8/23 a month ago. The US remains in a housing recession and manufacturing recession.
The last real US recession was 2008-2009 (excluding the COVID-19 pandemic turmoil) so any of you wet behind the ears young folks in your low 30's and younger are completely clueless about recessions. You will learn fast. First of all, those plans you made on the kitchen table, projecting where your savings will be in a few years and other fun stuff like a home, crumple them up and throw them in the garbage.
Your life is going to be nothing like you think it is on paper right now. In fact, your boss is going to call you in the office this month and tell you to pack your bags and get out drop-kicking you into the dumpster on the far side of the parking lot. You will walk the green mile back to your cubicle, pack up the family pictures, the coins in the top desk drawer for the coffee machine, and house plant that needs watered, taking one last look at the place you spent so much time.
As a final blow making it real that you no longer have a job, your manager asks for your security door card and when you leave the door clicks behind you and you no longer have access. You wonder how you will tell your significant other, or the kids, and what will the neighbors think. People will think you are lazy if you lose your job. Lots of wild crazy thoughts will run through your head as it starts to feel like your life is spinning out of control. You think getting another job would be easy but there are a couple dozen other people wanting the same job and your contacts do not return your calls. Your boss told you the place could not survive without you and now you realize that was smoke being blown up your butt.
Good luck young folks. You are in for a treat over the next couple years. You will learn valuable life lessons. Here is an article Keystone wrote about recessions just before the pandemic that went viral and remains applicable. If a young person you are about to learn a lot about the game of life going forward.
Anyhoo, the labor recession ended in early 2011 and the good times were in place until the pandemic in early 2020. What a run. This is the period that many young folks are programmed to think the groovy times will last forever, like Itchykoo Park. They will not. The jobs report on 2/1/19 threatened a labor recession but this was snuffed-out quickly and the good times continued until the China Virus hit in 2020.
The blue line shows the massive spike in unemployment due to covid up to 15%. One in seven Americans lost their jobs in the time it takes you to blink. Alas, America's crony capitalism system saves the day with the Fed printing money like madmen (monetary stimulus) already ongoing since March 2009, and the Congress kicks in the money machine with obscene fiscal stimulus which in part, creates the Biden inflation.
All that money should never have been given to Americans during the pandemic. If you did not have savings, too bad. You would have learned a valuable life lesson. Instead, everyone now knows to be a bum, complain, moan, be an adult baby, a cry baby, and ask to suck the government teat each day. All of you realize that capitalism does not exist, right? You are an idiot if you think otherwise. You are watching the end game of America's unfixable corrupt crony capitalism system. It is fascinating. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
SPX S&P 500 Daily and Weekly Charts; Daily Time Frame Bullish but Weekly Time Frame Remains Bearish
The BPSPX, SPXA150R, CPC and CPCE put/call ratios, and most importantly, positive divergence on the SPX hourly and daily charts, announce a stock market bottom at hand. Keystone covered about 80% of the index shorts and flipped those positions long at the opening bell yesterday. The charts could have been posted but there is no point to it since the blogs are not supported well enough considering the tens of thousands viewers each day.
Remember, trading is playing multi-dimensional chess where the time frames are the dimensions. The SPX hourly and daily charts are set up with possie d. The SPX price sank lower and lower, and then matching lows, but the chart indicators ALL started sloping upwards (positive divergence). This means that price is loaded up with rocket fuel and sitting on the launch pad waiting for someone, or something, to light the fuse.
The US Monthly Jobs Report day is the catalyst. The jobs number is a blowout over 3 hundo thousand jobs but the unemployment rate remains at 3.8% now signaling a labor recession. Keystone will have to explain this later. Everybody and his brother say a US economic recession is now completely off the table after the jobs report. It is all happy talk. Au Contraire, Pierre. The US is in a housing recession for 9 months, as well as a manufacturing recession this year, and the labor recession stated last month.
The possie d rocket fuel in the daily time frame is ignited and whoosh, up she goes. It is interesting that price did not touch the 200-day MA at 4208 since it was in the neighborhood. The 4210-ish level is where the 12-month MA is at which determines if the stock market is in a cyclical bull or bear market pattern. The NYA 40-wk MA cross already failed signaling a cyclical bear market ahead for equities.
The charts above are showing many moving averages and other metrics converging on the 4170-4210 range. It is for all the marbles so pay attention as the month plays out. If SPX 4170-4210 is lost, the US stock market will likely crash. It's fun.
But for now, the possie d, falling green wedge and oversold RSI, stochastics and money flow, on the daily chart, and toss in a lower band violation, all say up and away (bullish). The middle band that is also the 20-day MA at 4357 is an upside target. Also, the H&S neckline (see previous chart) is at 4340.
There is also a gap fill (orange circle) needed at 4370-4400 (includes the 100-day MA at 4393) and the 20-wk MA is at 4404. All of these numbers serve as upside resistance targets; 4340, 4357, 4370-4400, 4404.
So the bulls likely have legs on the daily basis but the Congressional mess continues as explained below. The lack of a House speaker creates negativity. The new moon peaks on Saturday, 10/14/23, so stocks may be selling off and weak Friday through Monday.
Putting the happy talk aside, note that the SPX weekly chart remains weak and bleak. Thus, the relief rally will likely be short-lived (a few days maybe week or two). The SPX weekly chart will reexert its negativity and it wants lower lows with the SPX price on the weekly basis going forward.
On the weekly chart, the blue circle shows a Tweezer Bottom. Price makes a matching and lower low and the RSI is positively diverging, barely, but this activity will conspire with the positive daily chart to help boost price higher. Ditto the oversold stochastics on the weekly chart that are agreeable to a relief move higher.
However, the weekly chart indicators MACD, histogram, stochastics and money flow, remain weak and bleak wanting the SPX to print lower lows on the weekly basis. Thus, the positivity in the daily time frame needs to play out and then price will likely roll over and drop again to produce lower lows on the weekly basis.
Do you think there is a battle royale planned at the 4170-4210 range? It will likely act as a magnet going forward and where the fate of the entire US stock market will be decided. Remember that Royals song by Lorde? Click your fingers to the one hit wonder.
If you were short, you got punched in the face on Friday. Stocks should move higher in the daily time frame so you have to decide if you want to take the pain or immediately jump ship. When the daily chart goes neggie d, the long positions can be dumped and flipped short. If you are a longer-term player and holding some shorts, you may consider letting the trades remain in place since the SPX weekly chart is weak and bleak wanting further lows in equities on the weekly basis (later this month or by early November the SPX will be below 4200).
Congress is a mess with the House leaderless giving Speaker McCarthy the boot. There may be a vote mid-week for a new speaker and if that fails, fear and panic may return in force since the House will be a complete mess.
The House republicans display incompetence when in the last election, aside from the abortion issue, the 'glaring theme of those elected was competence'. Americans are sick of the republocrat and demopublican filth and scum and simply want to 'elect responsible capable competent managers to office'. It is not rocket science, and Keystone knows rocket science.
The Jordan character wants the House speaker job but he is Trump's boot-licker and puppet and comically, the orange head provides an endorsement for Jordan; it is the kiss of death. Jordan should have told Trump to keep his mouth shut. The endorsement guarantees that not one single democrat will vote for Jordan.
In addition, it sets up the moderate republicans in the House to be little b*tches and buckle under to the whims of King Donnie and the right wing of the party, and vote for Jordan. That is probably not going to happen. The interim speaker Patrick McHenry will likely end up the speaker until the November 2024 election. Channeling Patrick Henry, Patrick McHenry will proclaim, "Give me the House speakership, or give me death!"
It is obnoxious inconsequential political theater since the United States is already gonzo; you're watching the demise of America's corrupt crony capitalism system and living world history in real-time. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
BPSPX S&P 500 Bullish Percent Index Daily Chart
The BPSPX, SPXA150R, CPC and CPCE put/call ratios, and most importantly, positive divergence on the SPX hourly and daily charts, announce a stock market bottom at hand. Keystone covered about 80% of the index shorts and flipped those positions long at the opening bell yesterday. The charts could have been posted but there is no point to it since the blogs are not supported well enough considering the tens of thousands viewers each day.
Remember the previous BPSPX post, Keystone told you to watch for a six percentage-point reversal to the upside to confirm a potential stock market bottom. You're still watching. However, a drop to 28 is bigtime. That is way down in the cellar so the BPSPX is right at, or very near, its bottom. From the current 28, a 6-point up move is 34 to confirm a stock market relief rally.
The bulls were in full control in June and July. The move above the 70 level kicked-in the afterburners sending the SPX skyward but alas, there is always a night after a day, a yin and a yang, so the BPSPX tops out at 80. A 6-point reversal is 74 and that occurs in August issuing a market sell signal.
The BPSPX then loses the 70 level for a double-whammy sell signal. The bulls try to save the day in late August and stage a 5 percentage-point reversal, from 53 to 58, but five is not six and the BPSPX ran out of gas collapsing lower.
The BPSPX is consistent where you would expect a bottom to occur. Ditto the SPXA150R. These, along with the other metrics, helped call the Friday bottom. Markets remain choppy and erratic and if Fed Chairman Powell coughs it will move markets.
If the BPSPX crosses above 34, that is a market buy signal and above 35 would be a double-whammy buy signal.
Putting the happy talk aside, note that the SPX weekly chart remains weak and bleak. Thus, the relief rally will likely be short-lived (a few days maybe week or two). The SPX weekly chart will reexert its negativity and it wants lower lows with the SPX price on the weekly basis going forward.
Congress is a mess with the House leaderless giving Speaker McCarthy the boot. There may be a vote mid-week for a new speaker and if that fails, fear and panic may return in force since the House will be a complete mess.
The House republicans display incompetence when in the last election, aside from the abortion issue, the 'glaring theme of those elected was competence'. Americans are sick of the republocrat and demopublican filth and scum and simply want to 'elect responsible capable competent managers to office'. It is not rocket science, and Keystone knows rocket science.
The Jordan character wants the House speaker job but he is Trump's boot-licker and puppet and comically, the orange head provides an endorsement for Jordan; it is the kiss of death. Jordan should have told Trump to keep his mouth shut. The endorsement guarantees that not one single democrat will vote for Jordan.
In addition, it sets up the moderate republicans in the House to be little b*tches and buckle under to the whims of King Donnie and the right wing of the party, and vote for Jordan. That is probably not going to happen. The interim speaker Patrick McHenry will likely end up the speaker until the November 2024 election. Channeling Patrick Henry, Patrick McHenry will proclaim, "Give me the House speakership, or give me death!"
It is obnoxious inconsequential political theater since the United States is already gonzo; you're watching the demise of America's corrupt crony capitalism system and living world history in real-time. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
Note Added 10/12/23, Thursday Morning, at 7:14 AM EST: BPSPX tags 35.20 a six percentage-point reversal and above the 35 line receiving a double-whammy stock market buy signal.
Subscribe to:
Posts (Atom)