ES - Daily Issue / Monetary Perspective / Weekly Count 3/5
The S&P 500's weighting is heavily concentrated:
Apple Inc. AAPL @ 6.37
Microsoft Corporation @ 6.37
Amazon.com Inc. @ 3.91
Tesla Inc @ 2.27
Alphabet Inc. Class A @ 2.20
Alphabet Inc. Class C @ 2.07
NVIDIA Corporation @ 2.04
25.23% in Sum - 7 Heavy Weight which accounts for the
a very percentage of the Move Higher from the September
Lows - 4260 to 4740 or 10.126%.
The ES moved 10% October 4 Lows to the November 22
Highs.
Passive ETFs contributed heavily as well for their concentration
are skewed to the Above 7 Companies.
______________________________________________
What remains of concern is the Move concentration in
Equities the average Retail Trader cannot afford.
Concentrated Wealth purchased Large Call Volumes and
shares the First Week of October and continued Gamma
Squeeze after Gamma Squeeze into a High - whereby Deltas
were in a Large Out-of-Balance Condition.
Effectively - they ran the table with Maximum Leverage to
the Upside for as both the Dollar and Yields were pushing
Higher overall.
The Federal Reserve remained accommodative the entire
push Higher, Issuing Passive Monetary Policies.
_______________________________________________
The FSR did create a 3.9% Retracement, however.
The Dollar and Yields are both approaching conditions where
they hold the Potential for Pullbacks.
Contrary to the above is simply this - OverBought is a condition
which may or may not exist in Monetary phenomenon.
The Announcement the Federal Reserve was moving forward with
their Taper and Shifting the Fed Funds Curve forward - the effect
was a minor decline on the release only to reverse and move higher.
__________________________________________________
To simply the above divergences, the Wealthy continue to force
Gamma Squeeze after Gamma Squeeze, it is Greed, nothing more.
When GSCO provides an Indication they believe the Indicies can
Melt Up into Year-end... It used to be when Abbey Joseph Cohen
offered guidance, We faded it every time.
This is not then and GSCO has a Point, as volumes fall off into the
Holidays, the easy play is Higher on Narrowing Breadth and Declining
Volumes.
Tax-loss Selling is occurring in the outliers in all Indicies as many
Companies are down 40 - 55% across all Sectors.
People, the US are selling in order to raise Cash as Savings Rates
and Personal Incomes decline at the Fastest Real Rate in US History.
____________________________________________________
We ALL need to be ON GUARD for anything, including a Year-End Melt Up.
After again reviewing the longer-term Structures of the ES '/ YM / NQ / RTY
I keep returning to 3/5 in the Larger Count as it has the Highest Probability.
4/5 appears to be an unlikely Event for Price after Time has provided far
more information.
We shall see, as even more Price Information is required.
______________________________________________________
The Overall Market Structure - Terrible / Horrific / Weakening / Abysmal.
All Fact as we see 4 X Negative Divergences have formed.
Unfortauney, for now, there is even more room to Diverge.
The Markets are a Pure Monetary and Credit Phenomena - Nothing More
Nothing Less.
_______________________________________________________
The Big 7 - as I have repeated many times - They are Protected Entities.
Wealth is concentrated within these Companies.
It is all about preserving this Wealth on a Daily basis.
US and Them...
________________________________________________________
Happy Thanksgiving - HK
Apple Inc. AAPL @ 6.37
Microsoft Corporation @ 6.37
Amazon.com Inc. @ 3.91
Tesla Inc @ 2.27
Alphabet Inc. Class A @ 2.20
Alphabet Inc. Class C @ 2.07
NVIDIA Corporation @ 2.04
25.23% in Sum - 7 Heavy Weight which accounts for the
a very percentage of the Move Higher from the September
Lows - 4260 to 4740 or 10.126%.
The ES moved 10% October 4 Lows to the November 22
Highs.
Passive ETFs contributed heavily as well for their concentration
are skewed to the Above 7 Companies.
______________________________________________
What remains of concern is the Move concentration in
Equities the average Retail Trader cannot afford.
Concentrated Wealth purchased Large Call Volumes and
shares the First Week of October and continued Gamma
Squeeze after Gamma Squeeze into a High - whereby Deltas
were in a Large Out-of-Balance Condition.
Effectively - they ran the table with Maximum Leverage to
the Upside for as both the Dollar and Yields were pushing
Higher overall.
The Federal Reserve remained accommodative the entire
push Higher, Issuing Passive Monetary Policies.
_______________________________________________
The FSR did create a 3.9% Retracement, however.
The Dollar and Yields are both approaching conditions where
they hold the Potential for Pullbacks.
Contrary to the above is simply this - OverBought is a condition
which may or may not exist in Monetary phenomenon.
The Announcement the Federal Reserve was moving forward with
their Taper and Shifting the Fed Funds Curve forward - the effect
was a minor decline on the release only to reverse and move higher.
__________________________________________________
To simply the above divergences, the Wealthy continue to force
Gamma Squeeze after Gamma Squeeze, it is Greed, nothing more.
When GSCO provides an Indication they believe the Indicies can
Melt Up into Year-end... It used to be when Abbey Joseph Cohen
offered guidance, We faded it every time.
This is not then and GSCO has a Point, as volumes fall off into the
Holidays, the easy play is Higher on Narrowing Breadth and Declining
Volumes.
Tax-loss Selling is occurring in the outliers in all Indicies as many
Companies are down 40 - 55% across all Sectors.
People, the US are selling in order to raise Cash as Savings Rates
and Personal Incomes decline at the Fastest Real Rate in US History.
____________________________________________________
We ALL need to be ON GUARD for anything, including a Year-End Melt Up.
After again reviewing the longer-term Structures of the ES '/ YM / NQ / RTY
I keep returning to 3/5 in the Larger Count as it has the Highest Probability.
4/5 appears to be an unlikely Event for Price after Time has provided far
more information.
We shall see, as even more Price Information is required.
______________________________________________________
The Overall Market Structure - Terrible / Horrific / Weakening / Abysmal.
All Fact as we see 4 X Negative Divergences have formed.
Unfortauney, for now, there is even more room to Diverge.
The Markets are a Pure Monetary and Credit Phenomena - Nothing More
Nothing Less.
_______________________________________________________
The Big 7 - as I have repeated many times - They are Protected Entities.
Wealth is concentrated within these Companies.
It is all about preserving this Wealth on a Daily basis.
US and Them...
________________________________________________________
Happy Thanksgiving - HK