U-Shaped Deterrence

“The death penalty deters murder.” A classic right-wing idea. So classic, in fact, that it’s tempting to think that the idea of deterrence itself is right-wing. Yet on reflection, that’s absurd. The left strongly believes in deterrence for discrimination. If you said, “Let’s cap discrimination […]

Can the November NFP Revert the Markets?

Every new bit of information about the omicron variant of covid has been jostling the markets lately. So. many might have forgotten that tomorrow is the release of NFP data. On the other hand, maybe for some, it might seem like “old” data, as it […]

AMZN Triple Zigzag Ending Near 2867.82

The current AMZN structure shows a bullish impulse. This includes the formation of a deep fourth wave of the primary degree. The primary correction wave ④, apparently, takes the form of an intermediate triple combination (W)-(X)-(Y)-(X)-(Z). Let’s pay attention to the last wave (Z), which […]

Intraday Market Analysis – USD Accumulates Support

USDCHF to test key support The US dollar stabilized after Jerome Powell hinted at speeding up the taper pace. The break below 0.9270 has put the rally on hold. The support has turned into resistance with the latest rebound fading. But a bullish divergence suggests […]

Sokal III: Another Hit at Woke Nonsense?

To paraphrase the incipit of the Manifesto of the Communist Party (my apologies to Marx), a spectre is haunting America—the spectre of wokeness. But wokeness has intellectual feet of clay. By the time you read this post, the news of the fake article published by […]

A boringly conventional contrarian

In my new book entitled “The Money Illusion”, I argue that a tight money policy by the Fed in 2008-09 largely caused the Great Recession. I’d guess that 99% of economists don’t agree with me on that point. That makes me a contrarian. But if […]

A Package of Populist Deregulation

The best deregulation lacks popular appeal. Deregulation of immigration is unpopular. Deregulation of housing is unpopular. Deregulation of labor markets is unpopular. But when the stars align, specific forms of deregulation become potentially popular. All you need is close the deal is some brash populists […]

AAPL Is the Ending Diagonal Not Complete Yet?

AAPL shares seem to be forming a primary fifth wave, taking the form of an ending diagonal of the intermediate degree (1)-(2)-(3)-(4)-(5). This wave is also the final one in the cycle impulse a. It is likely that at the moment we are in the […]

Will Japan’s November Consumer Confidence Move the Yen?

It’s common knowledge that the chronic problem the BOJ has had to deal with is low inflation. But, inflation is unlikely to pick up if consumers are unwilling to spend. So, keeping an eye on consumer sentiment can give us some advance warning about where […]

Intraday Market Analysis – USD Treads Water

USDCAD seeks support The Canadian dollar edged higher after Q3’s GDP beat expectations. A bullish MA cross on the daily chart indicates a bullish bias in the US dollar’s favor. The break above the resistance at 1.2770 suggests that the bulls retain control of the […]