Republic Risk: Coming in Hot

Another quiet day. When will "stonks go up?"

Equity Storm Watch Is GREEN on the S&P 500 and GREEN on the Russell 2000

Here we are at 5,100 on the S&P 500. The S&P 500 ETF (SPY) is positive on RSI, MFI, MACD, and ADX. Same for the Russell 2000 ETF (IWM). Same for the Nasdaq 100 (QQQ). Just follow those technicals.

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Dear  Fellow Expat:

Good morning. 

I apologize for the delay this morning.

We’ve been grounded by some power issues around the Florida Republic.

I guess they’re replacing some power lines, and it’s great when they don’t tell you that it’s going to happen.

This is an irrational financial market. And that’s my message to you today.

The entire market is chasing NVIDIA. And it makes very little sense given that there’s no real knowledge of what this is supposed to be worth.

Momentum is a funny phenomenon. You see, the entire premise of a market is to sell. And in the world of finance, it’s all about buying for $1 and trying to sell for $2.

The purpose of a market is to sell.

The challenge is that when equities …