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The "It Doesn't Matter Until It Matters" Chart Of The Day
Growing concerns about the weakness of breadth in the stock 'market' where, as we noted here, 47% of Nasdaq Composite stocks are down at least 20% from their highs with the average stock in the index in a bear market (down 24%), continue to be ignored by a market that cares nothing for fundamentals. NewEdge's Brad Wisack adds another "it doesn't matter until it matters" chart to the list of worrisome indicators today by noting that "we haven't seen this before..."
As Wisack notes - one thing that is clear is that we have not seen this extent of breadth deterioration before... where the market goes straight up while the # of stocks trading ABOVE the 200 dma trends straight down...
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Seems like pent-up demand to us... BTFATH, cash on the sidelines, stocks are cheap, Fed has your back... etc. etc...
Until it matters!!!
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USJPY fueling this shit with an ENORMOUS move up today currently 10868 up 150 points on the day !!! guess Nomura better start buying some Yen before Japan implodes
But is Gartman long yet?...
fuck that, im only selling once those 2 charts cross..until then im buying with both fists
You will probably want to pick a different trigger condition. They are different units on different axes. Just numerically, the only way they will ever cross is at 100; practically they would probably only cross at 0.
haha +23 sir. Do the opposite of gartman, you will make a killing.
The bears HATE this market, keep trying to get the top, but FED keep injecting money, just not so much as they were before. We are still going up. This is one scary chart.
Check out this scary chart ===> http://bit.ly/1fMcakI
Basically the way you look at this, it means, we keep going up on the market, every time there is an injection of money by teh fed. Do you love it? can you smell the top? welll.... I dunno, but if you are smelling something, it smell like more verbal diareha about the fed, and how they are ramping this market, before the death crash like 2008 is coming.
Remember how everyone got tricked into that con job. The market goes andn crashes every 7 years from 2000 so that means things will get very interesting in the next sevearl years.
Uh oh....
Looks like Wyle E Coyote just ran off the cliff....
Only problem is... now we're dealing with Idioconomists messing with the bank Masheen - they got electrolytes and they know what markets CRAAAaaaaave
What do you mean you haven't seen this before??? Just look at the first 3 years of the chart, 2003 throught 2006: Red line DOWN, Green Line UP.
Take a look at the time frame...not the same.
Well when you have a handful of stocks up 400% it makes up for the many stocks down 20%, if all you hold are the ones up 400%.
Winners are based on the greased connections, not actual business. Losers have their value based on what they really produce.
Since the global market is really in the tank, most corporations can't buy connections like Tesla to send their stock soaring. Sure in a perfect world if they can somehow obtain the raw materials, the gigafactory can build enough batteries for 500k cars. Why not send the stock to a valuation that requires 3 million cars to be sold. Cars can be produced without actually building them right?
As long as AAPL keeps making new highs.....who cares....right?
If only CBNS could stop pumping Apple for at least two fucking seconds.
I look at data like this and the only thought that crosses my mind is how bad things must be in the shithole countries from whence all this demand is coming from.
This is the safe haven from calamity in your own quater of the globe? You sure about that?
They are looking from outside in and only see the chrome plating on the dog turd. We as a country aren't any better with the clowns like CNBC admiring the chrome from inside the turd.
So the markets have discovered a new harmonic mode beyond the threshold of normal tolerances. "Bubbles within bubbles," we might call it. But when the bubble within the bubble bursts, thus bursting the bubble, the amount of energy released in the snap-back to equilibrium will be enormous. It's a little bit like latent heat: it does not manifest as sensible heat until there is a phase transition, but that newly released heat becomes the power source of the hurricane.
To continue with the metaphor (while albeit somewhat mixing it), what we are seeing in this long-in-the-tooth bull market of today, is no mere adiabatic convective rise (which itself, mind you, is already instability inducing), but a momentum-driven overshoot that will come crashing down with a mighy downdraft. The "Derecho Deflation" in stocks will someday be upon us, like an horrendous wind blasting everything before it.
Yep we're building a supercell thunderstorm and eventually a hard rain is gonna fall.....
The swap within a trade within a bubble collapse will be like Inception when everyone's waking up in slow-motion & the world is collapsing :)
The only thing that matters these days is the illusion that all is well. The market will continue to hit all time highs even the most stocks are in a bear market. The fed can't have markets fall apart while they withdraw stimulus (if they are really withdrawing it) so they will continue to push this thing higher in order to say "see we told you so".
Ben Bernangel - bankFREAK - the Illusion Continues...
Scotland votes no, blow-off top in 3-2-1
who woulda thought with all the other crazy shit on this planet that Haggis would be the black swan
AYE laddie, the black swoon was a black sheep all along! Hoocoodanoooon
The FED never committed treason and conspiracy to commit treason in this way before.
nifty fifty period?
Does this one matter?
http://www.showrealhist.com/SealDow.gif
I am very skeptical about a stock market crash. With unlimited money / debt, what would stop the FED and the big banks buying stocks and pump up the market? Nothing really. Why would they sell? Even if the public starts to panic sell, the FED can buy everything that is sold.
You say there are rules to prevent this? There are no rules that apply to the FED / big banks.
it seems like yesterday that you weree rueing the loss of alpha ...lamenting that all stocks seeemed to move together in lock-step like a nazi parade ....now, you are complaining that they have become separated and some do much better than others .... methinks thou dost complain overmuchly.....
Could it be that the companies that still have strong enough balance sheets to sustain buybacks (or borrowing capacity) are propping up the market and hiding the facts of all the companies that no longer have balance sheet room for this sort of financial gimmickry? Let's be clear: if every company included in the S&P 500 ahd the resources to buy back their shares they would.