I call it "Evil" but whatever you call it, "it" moves markets

 

 

$GOOG Advertiser, dressed as a surveillance state trojan horse wearing a Gemini halo

$GOOG or $GOOGL (preferred shares)- I usually chart the common shares, don't ask me why. 

Looking at the chart it's easy to see why I haven't been bullish on this name since it overshot the top of the channel, back in Sept. I don't normally talk about market cap, but lately there seems to be a competition going on to see who can be the most overvalued? This one topped out around 3T during the Sept ramp.

Note: This $GOOG chart replaces the chart I uploaded to the public hub, earlier in the week

 

 

 

 Yesterday, I pointed out: This isn’t a crash. It’s a slingshot [link].

Yesterdays rally confirmed it, but I think a better description of the action we're seeing is pinball, as many high-flying semiconductor stocks collided with a bumper. Yesterday's slingshot snap-back was a flipper launch to remember, bouncing off the rails, lights flashing, close to tilting? 

 

Judging by the still elevated $VIX I'm not the only one who's adding to put positions. 

 

 

 The Catalyst: Enter the poster child for AI greed

 

as featured on Bloomberg

OpenAI CFO Says Bubble-Wary Market Needs even More AI ‘Exuberance' moneycontrol.com  

 

 

CFO Sarah Friar hinted at a role for the US government to “backstop the guarantee that allows the financing to happen,” but did not elaborate on how this would work

(Translation: “Please bail us out when the music stops.”)

 

  

 

  

 Of course, semiconductors led the pinball action 

 

Japan ($NIKK still on death watch) snapped back and that also helped drive markets...

The Broader "Bull Market" Fake as hell 

Here's a common-sense rundown of why it's fake, I recently found on YouTube from @MichaelBordenaro (yeah, he's a gold bug, but don't hold that against him) Must watch - the first half anyways 

For the prime cuts: jumps to 07:54 The Casino Economy: Rigged Markets and Speculative Mania.

       

 

Momentum lost 

• Leadership chaotic - pinball like

• Birds still chirping 

• Futures UNCH     

• $VIX remains sticky like inflation during the Fed's transitory years    

 

Fed's Powell says could raise rates beyond December, gives nod to disinflation reuters

Retail's in denial, chasing dips like it's 1999. But Powell just dropped this bomb this morning: Rates could hike beyond December if disinflation stalls—nod to progress, sure, but that "could" is code for "buckle up", buttercup. Kool-aid hangover hitting hard.

 

 

Take Care, AA  

 

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