In the stock market

The following is from my friend David Korn who knows a whole more than I do about financial markets.

I couldn’t possibly comment so am posting for your information (and a possible heads-up?)

"The Fed's to announce at 2:15 EST. Likely the Federal Reserve Board Chaired by Janet Yellen, will raise overnight lending rates 1/4%, 0.25%, aka 25 bp, basic points. What we do not know, past its great likelihood, is the reaction."

Something afoot in the markets?

Via Facebook

The biggest day in the stock market--from the point of view of anticipation--since 2008 might be tomorrow. I don't mean to prognosticate an especially up or down day (not for you anyway here, but I sure have an opinion, aka as a 'position'!) but to notify many of you of THE single most watched day in years in equities, börses, stocks, call it what you want.

Not days, not hours. But part of decade of waiting, prognosticating, watching. 

How long is seven or eight years?

Pros here do not need me. And beginners might not get a word. But for the rest of you, try this, a slice of my brain tonight as it really is.

Fed's to announce at 2:15 EST. Likely the Federal Reserve Board Chaired by Janet Yellen, will raise overnight lending rates 1/4%, 0.25%, aka 25 bp, basic points. What we do not know, past its great likelihood, is the reaction.

Pluses and minuses, alphabetically, since fine evaluation in such a truncated space to a mixed audience by level of technical knowledge is ill advised:

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A is for Apple. Not in an uptrend. Trees to do not grow to the moon.

Asia. Yikes. Nikkei is teetering. Shanghai artificially held up.

Baltic Dry Index. Disaster. Lack of iron ore demand back to China.

Brazil stocks, aka as Bovespa, big time downtrend, matching oil down cum up dollar, matching down copper. Massive spill by Broken HIll Properties, with 60' wall of iron ore ore tailings,flood of Doce River, taking out 600 person village given six minutes to get out completely, and so massive a spill as to necessitate a five year clean up costing four billion or so, was it, cannot help matters any? Water shortages in largest city, San Paulo, Triste Tropique?? Sign of the end of man or a blip? Keeling Curve with CO2 over continually over 400 ppm at observable location in Hawaii? Economic productivity is taken by the BOJ, ECB, and Feds as a solution? Excuse me?

Buying. Jesus F. Do you believe a rally here means more? Or a chance to get more short?? Hugh. Tell me.

Dax; Engine of Europe has made a total bottom? Grave doubts.

McClellan Oscillator shows the tendency to plunge, yet the move down Wed was tame in comparison, so its not that the fall came and now its blown off, but has yet to be seen.

NH NL, NYSE new highs, new lows as it is called hardly the stove of bulls. Reflected in a decimated RUT, aka Russel 2000! Danger. Spoiler alert big time.

QQQ: Sell them! Toppy.

Security: shut down schools in LA? Attacks in Paris? Russia and Turkey. Excuse me??

$Silver/Gold: very oversold. Moves darn near reciprocal to the market. 

Concomitant is, Euro has support at 1.05. Currently 1.0943, which equates to about a 100.1 dollar index (weighted to Yen, Euro with emphasis on the latter. Yuan is devaluing, which is exporting deflation. This is a kind of back door war against the USA. Watch out!

$SPX/$NDX, prior could not get above the 50 day MA and latter barely above it. Can the entire market be help up by Amzn, FB, NFLX, TSLA, IBB, BBH, GOOG, BABA. Shit no. NKE? Certainly not AAPL.

$TNX bonds are intermediate term oversold, which is fuel on the fire of stocks. Eventually, a day, an hour, a week, but pendulum will swing back, and higher rates will fall on the long end, aka ten year govy, and disintermediate funds AWAY from stocks into bonds, pulling prior down, hard.

$TRIN, four day trin is very overbought. Pop up to 4 or so Wed, as one day fall is not enough to hose the stables. Non-cognoscenti, aka market breadth.

$US Dollar. Failure to raise, then stocks will plummet due to greatly exaggerbated uncertainty, as we say 'on the street' 'unpredictability'. Raising rates might also cause a plunge, since the anticipated increase has 'already been priced in'. The market is a 'discounting mechanism', that is to say does not price today but expectations for tomorrow, on the street, aka as six months out--tomorrow!

$Vix show flat to negative, with backwardation from current cash market. Tells me prior will not want to raise or much at all, but futures drive the market here, not cash, and those can soar. Quickly. 5/10/20 day moving averages show Vix as a buy not a sell, and a pull back in bearish uptrend (stocks down).

$WTIC, Oil, aka West Texas Intermediate Crude: oversupply. Headed to 28, 29, not sure but 29 before 49. Warm weather back east, not helping Natural gas prices. Global warming is a liberal hoax??? Build more Targets, Costco, Wal Mart. 

This will help us by pumping up the Dow? Higher prices as Draghi said will really help Europe. Oh really??? Indoor ski slopes in Dubai matches Kafka, Borges, Celine. Humans are soylent green.

Z is for Zebra. Slice of the brain like in medical school or Grays Anatomy? Sure. 'Only worth' 4.3B. Land grab or the Lawrence Ferlinghetti of 'the Coney Island of the Mind':

'Zillow Group, Inc. operates real estate and home-related information marketplaces on mobile and the Web in the United States. It offers a portfolio of brands and products to help people find vital information about homes, and connect with local professionals.

'The company product portfolio includes Zillow, a real estate and rental marketplace dedicated to consumers with data, inspiration, and knowledge around the place they call home, and connecting them with the local professionals who can help; and Trulia, a home shopping marketplace, focused on giving home buyers, sellers, and renters the information they need to make better decisions about where to live. It also provides StreetEasy, a real estate marketplace, providing for-sale and for-rent listings from various real estate brokerages throughout New York City and the NYC metropolitan area; and HotPads, a map-based apartment and home rental search brand, and a destination for renters in urban areas across the United States.

'In addition, the company offers ActiveRain, a networking site for real estate industry professionals to connect and share information through training and the member-produced ActiveRain blog; Diverse Solutions to help real estate professionals manage their brands and businesses; and Market Leader that offers marketing products, education, and technology tools to help agents manage all aspects of their business.

Further, it provides Mortech, which supplies mortgage professionals with various services and tools, such as all-in-one pricing, rate notification, prospect management tools, custom rate sheets, loan product eligibility, and guideline services; Postlets, a free listings creation and distribution tool for landlords and property managers to create, distribute, and manage their rental listings on mobile and Web; and Retsly that normalizes real estate data from multiple listing services. Zillow Group, Inc. was incorporated in 2004 and is headquartered in Seattle, Washington.'

Uber? Unicorns? Twitter or multi-billion dollar companies built on flotsam and jetsam? The illusion of so called popularity on social media as sign of near collapse? Roman Coliseums? Friends request? Silly Linked-In endorsements from folks you do not know who do not know you desperately seeking reCognition?

Why did no less than the pivotal Karl Marx get a PhD in the economics of ancient Rome?