ES - 1 Hour / XLK Saves the Day

Mega Cap Tech kept the ES off the ledge Tuesday.

Tesla let up on its Intra-Day Distro. Kimball must have sold enough for now.
He and Eron will be back.

More Tesla fraud to come, without question the Cooks are in the Kitchen.
Given the Dinosaur NUMI Plant is building Model 3's in tents again... one can
only imagine the Sous Chef's creations.

One Problem though - High Margin Model S & X... are of such low volumes
the Net is assuredly a Loss.

Factually, a huge loss.

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Mega Cap FInanials begin reporting next week. They have been sold wholesale
into Q2. Simply look at a chart of JPM, a less than Dimon look to it.

Financials should be of concern, Banks are suffering as Housing has rolled over.
Lending is near non-existent.

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There is nothing good out there, nothing.

The recent move higher is simply another EPS Ramp to gain higher entries
into the Trend, which is clearly lower in the next week or two.

Yields are coming back down as the 2/10 Futures continue to Invert persistently.

Gold / Silver underperforms when the narrative becomes one of Dis-Inflation.

Energy Ditto, although the energy story has far further to run, it takes time
to resolve. Crude will make new all-time highs.

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The FOMC cluster-eff is ahead as well. Jerry and the Kids in the Hall are subdued
with July 26-27 the Big Whammy.

Clearly, CORE CPI will see no real net benefit from Energy as it is excluded, but the
Chefs over at the BLS and Fed are "Keenly focused on Labor."

WHY?

Fake Policy Pivot as layoffs is now of concern.

It should be obvious by now the FED can do no right for us, for them... endless fraud.

July remains an 87.9% Probability of 225-250 Target Rate, in other words, 75 to 100
basis points a coming in late July.

Buckle up as the ride into Q4 will be nasty.

Patience for entries, we will be using December CTs.


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