Selling has yet to turn truly hideous this morning, but it is undeniably impressive, considering the markets are supposed to be thinking of Santa, still.
The weakness reflects the obvious fact that traders must have viewed the market’s upward waft as being on autopilot at least until Friday’s closing bell. What a rude surprise! Notice that the beast’s speculative head, Bitcoin, has yet to even feint toward the record high recorded a few weeks ago a hair above the 107,343 target I’d drum-rolled.
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Thank you,
Rick Ackerman