SPX Saturday Morning Musings

Direct from the desk of Dane Williams.

10 days ago, we wrote about how bearish the SPX looked.

From that day, all price has done is rally.

SPX Daily:

What a load of horseshit.

I just can't fathom how a country that is essentially letting millions of people die due to gross incompetence conveying their shutdown message, can have stocks ripping your face off, rallying.

The mainstream financial media gives reasons for the rally as optimism of a vaccine and the steps being taken to re-open the US economy.

A completely untested 'treatment' and an economy that in the last 3 weeks had over 20 million people claim unemployment benefits.

Even if they re-open and people ignore the fact that it will just encourage more of their vulnerable loved ones to die, do you really see things going back to normal as if nothing happened?

That bumper crowds will cram into bars and restaurants?

That Mum will let little Johnny go with his group of friends to the movies?

That even half of those 20 million people now unemployed are going to get their job back and return to normal as nothing happened?

Well, I sure can't.

I see a lasting recession potentially running into a depression if the disease gets a second wind as soon as stupid people start returning to normal.

How the majority of these companies are going to be able to post anything resembling growth, I have no clue.

But the money printer continues to go brrr at the Fed and OBVIOUSLY that's all that the top end of town needs to worry about when it comes to stocks...

...Right?

Best of probabilities to you,

Dane.

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