If supply chain disruptions were truly about the global supply chain, we'd see delivery delays everywhere. We don't. We see delivery delays in the US (red) - on a scale of Japan after Fukushima in 2011 - but little elsewhere. US supply disruptions are about demand, not supply... pic.twitter.com/CluZtAVHDT— Robin Brooks (@RobinBrooksIIF) November 1, 2021
Blue 4th Wave: (1) new ATH and overall very bullish mid-term. (2) still think this is part of blue w-4 of an Orange W-3, that explains the resilience and upward momentum. (3) it would look better if SPX dropped to 4550 to complete the very shallow flat wave.
3rd Wave Character: (1) there is strong evidence that SPX is in the middle of a 3rd wave. (2) MACD & RSI daily chart showed continuous & consistent strength that most likely seen in w-3. (3) it would take a larger w-4 to wear down the high reading & a w-5 to create divergence.
The correlation between short- and long-term Treasury yields has broken down. pic.twitter.com/iFP1gSCUYi— (((The Daily Shot))) (@SoberLook) November 1, 2021
When the S&P 500 is up >20% for the yr heading in November did you know that stocks have never been lower in Nov or the final two months?— Ryan Detrick, CMT (@RyanDetrick) November 1, 2021
8 for 8 higher in Nov, up 3.7% vs. avg Nov up 1.7%.
Final 2 months up 6.2% on avg vs. avg year up 3.2%.
Strength is a bull's friend. pic.twitter.com/vvPXsCXNei