4/29/2026
the DOW would have been down much more today but for VISA which jump[ed 8%
The major averages are topping. $103 oil, tariffs, see Phil Gramm's column in the WSJ, are taking their toll.
Transports
Six days of decline in a row, the Transports lead, Note RSI top and PMO bottom, as Richard Russel used to say, there's a hard rain coming.
In 2007 the buy write ooption funds, writing calls on securities, collapsed as a prelude to the overall collapse, it is about to happen again.
All momentum indicators are about to roll over and descend. If you are reading this blog you are prepared. T bills and bear funds preferred.
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