Dow closes >36k for first time as investors await Fed decision. Dow, S&P 500, and Nasdaq all closed at records for a 3rd straight day. The last time the three benchmarks all closed at records for three consecutive days together was the three trading days ending Dec. 23, 2019. pic.twitter.com/jNlIdDhe0d— Holger Zschaepitz (@Schuldensuehner) November 2, 2021
Spreads in the vol term structure are wider than average. Fear of the Fed? Just the normal noise? pic.twitter.com/8uaNM9TpiY— Jim Carroll (@vixologist) November 2, 2021
The desperation of the White House & the Biden Administration to blame OPEC for high oil & gasoline prices is exposing pure ignorance.— Anas Alhajji (@anasalhajji) November 2, 2021
1- Who blocked the Keystone pipline?
2- Who issued an executive order to stop drilling on federal land?
3- OPEC has nothing to do with gasoline pic.twitter.com/6rFUkosznk
🇨🇳 PMI New Orders fell further into contraction territory this October…— Julien Bittel, CFA (@BittelJulien) November 2, 2021
48.8 vs. 49.3 in Sept.
This is one of several inputs I use to estimate a FV price for commodities…
Today the two are diverging by a record amount.
Different this time?
Somehow I doubt it… Let’s see. pic.twitter.com/Z6I1eONgba
Infinity & Beyond: (1) SPX closed at ATH for the 61st time in 2021. Quite a record to break. (2) meanwhile, FED is going to announce its indefinite taper-tantrum tomorrow, for the who-ever-knows-how-many times over last decade. (3) that said, still looks like a w-3 while I'm sane
Break-away Gap at MSFT: (1) that HUGE gap that MSFT created last week turns out to be a break-away gap, meaning that it won't get filled in the near future. (2) also worth noting is the upper dotted trendline that will draw MSFT closer like a magnet. (3) nothing bearish here.
For those looking of a Crash, take note that The A/D line peaked in March 1987 and the market made a higher high 5 months later in Aug 1987 with a lower A/D line. We now made a High in the A/D in June and made a higher high with a lower A/D so far 5 months later in Nov 2022. pic.twitter.com/SfKnpIrvUt— Francis Bussiere (@AstroCycle_Net) November 2, 2021
While everyone is enamoured by the price, they fail to see the larger picture— Farris BABA (@farrisbaba) November 2, 2021
*I drew circles around each structure to give you an idea of what we're looking at
⚠️ This last structure is 2-3 times larger than the previous structures combined pic.twitter.com/0oEgymzp82
Crypto & Stocks Hit Record Highs Ahead Of Fed Taper Talk https://t.co/OdBTO6Hsgt— zerohedge (@zerohedge) November 2, 2021