evening wrap

market vibes

Dec 6 …)

"I do all my writing in bed; everybody knows I do my best work there" Mae West

Friday night Dec 6…)

NFP at 227 was divergent with ADP’s tally of pay stubs at 146 for November but the markets only have eyes for the BS BLS. U Mich sentiment came in frothy. Everyone has normalized 3% inflation except the FOMC.

The three bears’ ex-machina-rotation-flotation still rules the equity markets. NDX was bid all day. The Dow was offered all day and S &P s said baby bear’s porridge is, “Just right.” The stock market is a 1 in 3 odds play on any given day but they all go up.

Last week the Dow carried the ball and NDX was dope. Allow me to refer you to “The Social Dilemma” on Netflix for insights. Whatever. When it happens they have to blame.

In other markets the heating oil bitcoin spread is crushing it…