01 October 2014

SP 500 and NDX Futures Daily Charts - Burning Down the House

The economic numbers this morning were poor to fairly noisome.

 The ADP jobs added were below forecast.  Investors are watching these because of the Non-Farm Payrolls Report due on Friday, although there is a tenuous connection between those two reports, and reality.

Construction spending missed, and the ISM Index missed.

The spinoff of Paypal by eBay was exciting for a day, but Wall Street has whipped the financialisation theme like a rented mule, and it is not able to pull the markets at these levels.

BABA continues to show weakness, and there is nervous talk that the Fat Lady is named Jack Ma.

The Fed and the professional class are almost unbelievable.   Their policy errors and self-absorption have left much of the populace numb, almost in shock at their shameless recklessness and folly. 

What are they thinking?

And like the dedicated bureaucrats that they are, they keep turning back to their failed policies and broken, fictitious models.   And their masters, the overclass, are figuratively 'burning down the house.'   It is what sociopaths do.

Times are going to continue to be interesting.

Have a pleasant evening.