The collision of global markets and social mood

Thursday, May 5, 2016

Thursday -- Back To Back BS, Initial Jobless Claims

S&P E-mini Futures:
Modestly higher.

Back-to-back bullshit from

Mixed picture overnight in Asia and Europe. Fits this editorial mess perfectly.

A friend at the Socionomics Institute sent me this article -- check it out:

Some tech guy boldly states, “If you don’t have a ping-pong table, you’re not a tech company."

To that I would add: Dude, if your company doesn't have a business model, you're not a company.

Elsewhere in tech, at what end of the business cycle would you expect the following news?

"Tesla just took the most ambitious automotive production timeline since the Ford Model T 
and moved it up two years."

Tesla's wild forecast is coincident with the highest level of automotive debt ever. Wild.

Initial Jobless Claims today. Up 17,000 to 240,000.

Weird and rare. USD up, AUD up, CAD up. Oil (& Albertan wildfires) helping Oz and Canada today

Prices coming in just a bit across the curve.

WTI crude is ripping, currently up 4%. NG looking good for now too.

Gold, silver, platinum, and palladium looking good while copper is sitting out.

S&P Outlook:
The current pullback is becoming more and more problematic for bulls and bears alike. Feels like it may have further to go but that a bounce is in order.

Will try shorts in the 2100 area. Will try longs down to the 2000 area.

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