09 August 2016

SP 500 and NDX Futures Daily Charts - Stocks Wallowing On Lower Volume

Stock continued to wallow in a low volatility, lower volume trading range best described as 'lackluster.'

I suspect quite a bit of this is due to the vacations being taken in this hot August by the seniors, leaving the markets in the hands of those who are under instructions to pretty much do little and not screw it up.

Certainly there is little organic purchasing of stocks at these prices. Besides the Feds and company stock buyback programs determined to skew the results for bonus purposes, who would bother?

Aggregate demand is sluggish, revenues are flattish to declining, and profits are not worth the accounting ink which dreams them up.

A friend and I were considering the economic forecasts past by government tools, otherwise known as big name expert economists, and for the most part they were very high end fantasy in retrospect, and not worth the electrons used to transmit them.

Are they just that bad? Or just that servile to what their paymasters demand? One can only wonder.

Have a pleasant evening