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Market Musings

It appears that we have another tulip market ... what with the election over and crypto's disappearing.

The FED's interest game is beginning to devastate the wealth producing sector. Major banks and insurance companies are facing a significant loss on their bond portfolios.

Other significant downside factors are  the downturn in housing, continued supply chain problems, diesel shortages, a railway union strike, increasing pilot union demands and tech company layoffs.

OPEC decided to reduce crude oil output beginning in November.  Crude prices are already headed higher.  The Biden administration has lost its leverage in the Middle East thanks to its decision to reduce U.S. oil & gas production.

Shadow Government Statistics suggests the Biden Administration economic reports are incorrect. The third quarter GDP report and the massaged October 2022 jobs report as presented by the Biden administration was a result of smoke and mirror adjustments.

Not only the U.S. but the world is headed towards a significant period of negative growth. Dare I say that it will be at least another year of dismal U.S. and world economic growth.

And that is if we don't enter a major military war with either Russia or China.

Until Congress stops spending deficit dollars, the outlook is bleak.  While the U.S. dollar appears strong against the rest of the world, it will be just a matter of time before its value craters.

Do not be surprised if the NASDAQ falls through 8,000, the SPX to 2,500 and the DJIA sees the 25,000 level.

The Acc/Dis line remains above the red line. We are seeing many stocks setting up but we are keeping very close stops on any new positions.

Remember -- "Only purchasing power counts!"

It is difficult to find long-term trading opportunities with the future so uncertain.

By any reasonable measure, this market is dangerous.

Be careful ....

To review the 11/11/14 FlowChart, click here.

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