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The world and its mother are waiting for a vote in parliament to happen before deciding how to value the future.
How infantile and prone to tantrum this market has become!
A true bull market would bulldoze over a vote in parliament,
it would smash right through a government shutdown without a care!
A 50 basis point rate hike or two,
would not even blemish the true bull market rally.
Ahh,
but this is not a bull market rally.
This is an early stage bear-market undergoing a dead cat bounce.
This rally is prone to failure as there is nothing but hot air underneath it.
Credit is contracting,
Corporations are already announcing layoffs.
Earnings will be flat if not negative for many firms,
And the outlook is worsening by the day.
The next leg down will be brutal.
Then there will be no denying the reality of the new bear-market.
Let them have their vote.
Nothing can change the shift to negative social mood now.
Down to business.
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