At the time I am writing this article is 6:15 AM on the west coast of the United States.
Stock futures are up strongly in the pre-market action on yet again more bad economic news.
It is being reported that consumer demand for home loans is slowing, and durable goods orders, (that is the demand for long lasting factory goods) has now declined for two straight months yet stock futures are higher.
It is clear that this market remains upside down in that bad economic news continues to be an upward driver for stock prices.
The market obviously believes that the Federal Reserve is stuck, and will have to hold off on future planned rate hikes.
The market also believes that the Federal Reserve will not be able to begin normalizing there gargantuan balance sheet.
Today's pre-market action is typical of what we have been seeing over and over again, because the Federal Reserve is running the show. The market realizes that the US economy is in trouble and this means that the Federal Reserve will have to slow their current planned rate hike trajectory. Moreover, as I have been saying, I still cannot imagine a scenario where the Federal Reserve will be able to even begin normalizing the balance sheet.
There will be a point when bad economic news drives markets lower as it should, but in this upside down Fed. managed market the distortions may get even worse before a real market once again emerges.
Gregory Mannarino
I am getting used to this upside down market
Economical catastrophe awaits us. Some day, suddenly, with no warning, the stock market will plunge tens of % in hours, not days, but hours. I just finished reading Road to Ruin by James Rickards and I think we have a scary future coming up in the next few years.
@marketreport how much of our money should be held in precious metals and cryptocurrencies? I currently hold over 80% of my money in those!
You see what Dudley has to say? Is he just trying to jawbone the markets down or is he serious about what the fed is doing. So hard to tell at this point. http://www.zerohedge.com/news/2017-06-26/feds-dudley-had-some-worrying-remarks-during-closed-press-session
The day of reckoning is coming. Thanks for the update Greg!
I agree with you 100%.
Beside the bad economic news, somebody or something has decided to dumped another 2 billions into the gold market, causing the gold market to flash crash. No wonder the market is heading back up...it's just insane. Real hard economic data no longer matter, it just an illusion for the the masses and the sheep to be slaughter down the road.
Another great update Greg...
Gres we always upvote and re steem
I always find one of the hardest things to do is to exit before market crashes. Yes there are signs, but human nature is to see the positive.
Two things I am careful with is stop-losses and only trading the trends. I hope that these look after me if /when the reversal kicks in.
Thanks for keeping your finger on the pulse of the markets so early in the morning Greg
The early bird catches the worm :)
Thank you for saying this.
The early bird takes lessons from the Lion on how to rip the face off the market!
Thank you for sharing
Sheeple, buy ,buy and buy some more. It's all crazy.
I'm in San Diego, so fantasy land is the norm, just like this economy!
Greg...this market can remain irrational longer than our government.
Keep up the good work!!! Thanx
Its simple now. We have been given a chance to stack up on more silver and cryptos!
this is just crazyness
Surprise! 2 billion of notional gold sold in seconds while Italian banks are being bailed out and the durable goods in the US are crashing. Would be sad if it wasn't so typical and normal. Unbelievable sometimes.
Seems like that's always the way doesn't it? Thanks for the update Greg!
It is frankly bizarre, and yet no one on the main stream financial channels even mentions it.
Economic Fantasy Land at its finest!
Exactly.
Thanks for the update Greg
You are very welcome.
Greg Did you see that two banks in Italy went bankrupt this past Friday. I think this could start in the US . Any thoughts
Bad News is Good News for me, I buy the lows :)
Hope you had a great weekend & got in some "pool time"
I wish. I had a crazy busy weekend. No pool : (
It was smokin hot up north here (WA) broke the century mark a couple times... Liking the more interactive style =)
Scary times we live in. Thanks for your reporting.. HOT in Vegas? Can I send you some NY ICE Cubes?
Cryptos and PMs in desperate need of cryo - STAT! They are all bleeding today. Figures.
Everything is so messed up. Bad news means big gains and good news means huge losses. Someday things will even out but I feel it will be tough times for a lot of people when it does. Keep up the great Blogs. Thanks
I feel like Mondays always have a rough start
I figured I would not share your work with people who didn't download your series
on SLV
I know it's not exactly the same... the source can't be chosen from another indicator
It seems in a week or 2 the slv call will become so profitable... bounce higher
I am not so sure as you are. I think they will do it anyway.
You may be right.
Keep up the good work. Thank you.
I totally agree!
Thanks for the update
I can hear the fat man tapping the print key repetitively over and over constantly to maintain this delusion we're all in as he puffs on the finest cigar with a snifter of Pappy close at hand............. can you here it!
Yes it is all up side down. Dark pools can't keep buying for ever. Nasdaq on the negative.
Thanks Greg. Upvoted and resteemed.
It is one big mind game on the American public. I agree about the Federal Reserve. Thanks.
The Fed continues its illusionary tactic that the economy is fine.
...and house prices continue to go up in New Zealand. Debt to income ratio is now 177% - insane, yet everyone believes it will just continue. The number of times I've been told 'house prices will keep going up' - because no one can remember them ever crashing here. When this crash comes everyone's going to be wiped out
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Something you should consider. I live in Nevada bout 120 miles north and west of Las Vegas. It seems in general that when times get hard the traffic and business in Vegas and Reno and such rises quite a bit. People will take their last dollar and put on a table or stick it in a machine. They do this on the hope they will be one of the few that will "Hit it Big' and whoosh all their worries away. After all what will a dollar or few do to raise them out of the poverty they find themselves in? not much really. But for that chance, they will do it. Odds are strange things.