Looks like market makers are waking up this morning with a really bad hangover, and Investors were seen quietly taking the tinsel back off the tree. Mood swings much?
This morning we're seeing a lousy jobs report help lift futures. Bad news is good news, because the more jobs are lost the more free money can be injected into a fragile "K shaped" economy.
I was looking forward to doing a deep dive into all the dead money sectors that are dragging on this mostly sideways zombie market, including but not limited to Energy, Healthcare, Transports, The zombie banking sector etc etc etc. continuing where we left off yesterday [link] but I'm afraid were only going to get to 1, or 2.
Powell's script: "We're
in a good place to wait and see." He repeated that phrase at least five
times, as if he were talking to a kindergarten class. But the market would have none of it. They hear what they want, and what they heard was a rosy 2026 outlook, and moments later crypto traders and silver
bugs were seen high-fiving each-other like lottery winners. Wait, but I thought silver rocketed above $60 on supply disruptions?
More than one sector made new all
time highs-but only crickets from the media.
(Go ahead, ask Grok which ones… he’ll tell you faster than CNBC ever will.)
Then without any warning: Oracle showed up with a lit match, and a can of gasoline (lousy earnings) and this morning's futures look like the Griswold Christmas tree, after the cat chewed the cord, and pine needles scorched into the living room carpet.
Last night President Trump took the stage and told the crowd, "your 401ks are “zooming,” “flying high,” “like the world has never seen before" (classic Trump bluster). Immediately after Fox News hooked up the reindeer and hopped on Santa's sleigh. Yeah, I admit, I watched some of it.
‘2026 is going to be huge’: Charles Payne thinks the economy’s future is bright
Fox Business Perma-bull Charles Payne rides Trump's coat-tails to try to sell more books
I like Jesse Waters; met him once at a republican national convention to "Stop The Steal!", to make sure Trump got the nomination. Jesse seemed intimidated by my presence, but I'm twice his size...he's smart to be afraid of strangers! 🤣
Time debunk Fox's sugar plumb fairy tales in less than 3 min., with the help of Grok/AI
The S&P 500 equal-weight index ($RSP) → flat to slightly red
The average 2030–2040 target-date fund most Americans own → barely positive, negative in real terms
Your typical balanced 401k that isn’t 100% QQQ → somewhere between treading water and slowly drowning
Is Grok Telling the Truth? (Spoiler: Yes...)
$SPXEW
Enter $SPXEW (S&P Equal-Weight Index)—the unvarnished truth behind the headlines. Flat as a pancake since Jan 20 (+0.2% nominal, -2.3% real
Where the Money Actually Fled: Rest-of-World +28% YTD—Trump's America? Hard Pass
$VXF Vanguard Extended Market ETF Mimics Your Typical - TECH HEAVY - 401k Fund
Meanwhile, Europe - over the same time period - is up 27.6% in USD terms since January. Japan’s Topix just printed a 35-year high. Gold is at all-time highs. Silver’s "" up 45% YTD. Even Canada is smoking us. Money didn’t disappear. It just left Trump’s America and never looked back.
Your 401k Isn’t Flying. Europe Is$VEU Vanguard EX-US (means doesn't include Trump's US). Luckily I was fortunate to see this trend coming from a mile a way, and we all piled into ROW stocks [I have to search for the link from March/April].
I pointed to Europe's "historic, meteoric rise", back in May [link]
So
when Trump steps to the podium and brags about 401ks “flying,” he’s not
misspeaking. He’s gaslighting. Because the only thing flying is capital
— out of U.S. equities and into everything else on planet Earth.The
dirty secret Wall Street won’t say out loud: The Trump stock-market
narrative only works if you own a handful of mega-cap tech darlings. Own
anything else — the stuff that actually fills most 401ks — and you’ve
spent four years watching paint dry while Europe, Japan, and even
precious metals laughed all the way up.Even the Trump Voters Are Calling It Out Ed Dowd — yes, THE Ed Dowd; the same Ed Dowd who used to work for [insert a one line resume] who voted for Trump and still defends much of the agenda — went on a podcast a few weeks ago, and said flat-out, "Trump is gaslighting his voters"
Even Ed Dowd—Trump voter, no less—called this stagnation 'something very wrong' on Tucker's pod last month. But the facts? They're the ultimate buzzkill.
P.S. Stay tuned because in the next blog we're going under the hood of the U.S. market and identify several sectors that continue to weigh on US markets. These aren’t “rotational laggards.” They’re corpses being propped up every time Nvidia or the AI complex has a good day. Includes the entire zombie banking sector.
More than one sector made new all
time highs-but only crickets from the media. 
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