First full day of Scotty B's feaux yield control campaign boosts bond yields. https://schrts.co/KRtSMTee

gold is back,  https://schrts.co/KGzvDXnk

and not to be out done Btchy parades out the head of the AI mafia, and $1/2 trillion of new debt on the way. Am I the only one that thinks that AI couldn't possibly come at a worse time?  We are up to  our eyeballs in debt.

Nvidia, Wall Street asset managers partner on $500B AI push

eom

According to my turn probability summation system this week the periods with the highest likelihood of seeing a turn in or acceleration of the current trend in the DJIA are Monday August 10th and a window stretching from about noon on Wednesday August 12th through about noon on Friday August 14th, in other words a pretty large piece of the week.  Not terribly helpful, but as I always say, it is what it is.

Last week the turn window had a bullseye catching a top turn of some degree as shown in red on the marketwatch.com plot snippet below.

The triangle that I showed in the weekly crude expecting a turn at the focus did not work out with no distinct important top or bottom exactly at the focus, just kind of close, depending on crude's path this week.

The triangle that I posted in the QQQ in purple which was part of diamond pattern did work out with the focus nicely pointing at a bottom, however, the diamond pattern that it was a part of which includes the green triangle calling for a top broke last week with QQQ moving up gapping at about the focus point level thwarting the pattern's prediction of lower prices.  That gap in the QQQ run up last week is crying out to be filled which will probably happen in the not too distant future.

The BLS drops more inflation magic numbers in the middle of this week.  The drop in energy prices will probably be a drag on the numbers, so good news is likely, but the latest Iranian ceasefire demands might make crude pop offsetting these happy numbers.  Longer term all the funny money printing to pay for the huge budget deficit is bound to keep inflation on the road higher whether the BLS reports it or not.

Regards,

Douglas

Could it be that this 3 day rally is over and were back to volatility?  Interesting that Iran said there was a deal but the market is barely up.  Overnight we sold the daily 7800 calls for $5.10 as I don't mind going outright short there and would love to be assigned as I still think volatility is coming back.  A healthy market stair steps up, straight up markets usually fall right back down again so we'll see....Going to be a fun day for sure....

I think I will soon start to study German given that in the mountains of the upper part of my own region it is commonly spoken and I have no reasons to spend more Summers in this heated 

plain where I currently live where temperatures are now hitting the marvellous level of 39 °C. Fu@k off El Nino and climatic changes, I've got enough. I want to be where daily temperatures don't go  

higher than  27 °C. Where at night you can breathe fresh air and sleep instead of counting the sheeps because of the tropical nights that are occuring.