According to my risk summation system, the days this coming week with the highest risk of a turn in or acceleration of the current trend in the DJIA are Monday November 15th and Friday November 19th.
Last week's Monday risk window caught the turn down at the top for the week. The Wednesday risk window was a somewhat lame acceleration day down with the trend and Friday's risk window caught a turn up, the importance of which will have to wait for Monday's trading to determine. All in all not a bad week for the risk window system.
Soap Box: Last week I moaned and groaned about inflation and blamed the FED. This week I want to spread that blame around a bit, specifically to Tricky Dicky, the guy who took the US off the gold standard for good way back in 1971 just because he didn't want to raise taxes to pay for the endless, pointless, lost war of his generation. Well, he actually did raise taxes, just not directly, by unhitching the dollar from gold, it steadily lost value, so he taxed all pensioners, savers and fixed salary working stiffs without ever having to pass a bill through a democratically controlled congress. It worked so well that every president since has lovingly embraced his hidden tax plan to milk the same misbegotten lot with, of course, the complicity of the FED who is critical in enabling this foul hidden tax. Like most taxes, this one started out as a trickle and has since morphed into a mighty torrent. What baffles me is how has the social levy held against these every rising waters of this stealth mass transfer up of wealth? When will the robbed recognize the thief? When will all these slowly boiled frogs finally jump, or is this just the new normal, frogs for supper forever?
Edited by Douglas, 13 November 2021 - 03:00 PM.