04 September 2014

SP 500 and NDX Futures Daily Charts - Ranging Day

"Facing a lack of inflation-adjusted, or real, growth in income and limited credit availability, and with a lack of willingness to take on new debt, the consumer simply does not have the wherewithal to drive positive real growth in broad domestic consumption. Personal consumption expenditure and residential investment accounted for 72% of the domestic GDP in the latest reckoning."

John Williams, Shadowstats

Seems like a fairly straightforward observation doesn't it?  Never underestimate the craven rationalizing of the privileged class.
Stocks had a wide ranging day as traders pushed the money around the plate ahead of the Non-Farm Payrolls Report.

We have the makings of a rounding top in stocks, but these are very thing markets so caution is advised until the trend is set.

And so we await that news tomorrow.

The complacency, created by the policy errors of the Fed, is so thick that if we were to receive an announcement of the end of days, I suspect that the biggest clicks would be on 'The Best Stocks to Own for Armageddon.'

There must be a God.  Otherwise people would have no one who loved them.

Have a pleasant evening.