November 6: Buffett's Cash Pile Tops Record With $149.2 Billion On Hand— Sven Henrich (@NorthmanTrader) December 9, 2021
Also November: pic.twitter.com/MzEALT33pw
Consolidation Day: (1) SPX moved sideways most of the day, before sliding to 4667. (2) I would bet the black TL at 4642 would stop the drop. (3) it is worth noting that 12/17 is a major cycle for a bottom; so, that may be the w-2 low after FED's decision and presser.
AAII Investor Sentiment Supports Bull Case: (1) Though not accurate every time, but AAII's weekly sentiment data has more predictive power than most chart-based indicators. (2) simply put, when Bullish > 40%, closer to top; if <30%, closer to bottom. (3) Dec. 8=29.7%, more UP.
🇨🇳 #China M1 money supply (usually a leading indicator) rose 3.0% YoY in Nov. (v +2.8% YoY prior)— Christophe Barraud🛢 (@C_Barraud) December 9, 2021
*Real M1 (adjusted for CPI) rose 0.7% YoY in Nov. (lowest since March 2020; v +1.3% YoY prior) pic.twitter.com/estvrdCLZW
"Interest expense" on US off-balance sheet debt was 67% of US tax receipts last year, per the US Treasury.— Luke Gromen (@LukeGromen) December 9, 2021
Entitlement pay-go's (HHS & SSA below) totaled ~$2.7 trillion, v. $4.05 trillion in estimated tax receipts (per the Cato Institute.)
These obligations have grown > GDP. pic.twitter.com/DUv4rugf13