“Once again, media’s setting up the “Perfect Storm” narrative to cover for the Fed’s recession. The Journal lists out a “convergence of hazards” that could tip us over: union strikes, government shutdown, student loans, soaring gas prices. Only one they forgot is aliens. They do this every time: Biden’s inflation had a new excuse every week. 2008 has a parade of “Black Swans.” The 1970’s had “overpopulation meets OPEC.” Every time, it’s all just a stretch of bad luck.”
Once again, media’s setting up the “Perfect Storm” narrative to cover for the Fed’s recession.
The Journal lists out a “convergence of hazards” that could tip us over: union strikes, government shutdown, student loans, soaring gas prices. Only one they forgot is aliens.
They do… pic.twitter.com/h1KfruVMWR
— Peter St Onge, Ph.D. (@profstonge) September 26, 2023
The Federal Reserve has signaled the possibility of further rate hikes, raising concerns that mortgage rates could reach as high as 8%, per Bloomberg.
Read more: t.co/QbeuRNedFz
— unusual_whales (@unusual_whales) September 26, 2023
Credit contraction is here! pic.twitter.com/K2edN9TCE6
— Game of Trades (@GameofTrades_) September 26, 2023
BREAKING: Citigroup $C shares close at lowest price since April 3, 2020 pic.twitter.com/9BMvTxvLnE
— Barchart (@Barchart) September 26, 2023
BREAKING: The S&P 500 is now down 340 points, or 7.5%, since the Fed removed a recession from their forecast.
On July 26th, the Fed raised rates and said they were not longer expecting a recession.
The Fed marked the EXACT high in the S&P 500 which just hit its lowest levels… pic.twitter.com/9DDHCiUb6A
— The Kobeissi Letter (@KobeissiLetter) September 26, 2023
twitter.com/FinanceLancelot/status/1706804689160098238
The percentage of NASDAQ stocks trading above their respective 200-day moving averages, as of yesterday, is now 27.68%.
Fuck your new bull market.
There's a negative divergence on the peaks.
This IS what you tend to see before a stock market crash.
I will not relent.
Few. pic.twitter.com/mVUaa52yTB
— Michael A. Gayed, CFA (@leadlagreport) September 26, 2023
The 130 day streak of VIX closes below the 200 dma, ended today. pic.twitter.com/bDQ6nR3kv7
— Mac10 (@SuburbanDrone) September 26, 2023