mr. lucky

market vibes

June 25…)

"Flattery is the food of fools." Jonathan Swift

In the news

Powell testifies before the Senate today, same text, same narrative. Trump is attending a summit in The Hague.

As equities climb on vaporous volumes, the lowest inflation-adjusted earnings yield in 25 years may take a decade to improve, according to multiple sources.

Bloomberg: “US airstrikes didn’t destroy Iran’s core nuclear components below ground, according to early Pentagon assessments, and were said to have set the program back several months to a year.” No further details are given, just the headline. The story since yesterday is a “low-level” CENTCOM employee leaked a report directly to CNN, with which the left-leaning agency saturated the news cycle. Trump said there is no doubt the operation was a success. Witcoff said in an interview that leaking this information to CNN is treason. More on this in the vibe.

Mark Rutte praised Trump’s actions in Iran and NATO funding negotiations, saying, “Europe is going to pay in a BIG way, as they should, and it will be your win.”

The Census Bureau reports new home sales at 10:00 AM EDT which have been straight up all year, rising from -7.8% in January to +10.9% last month.

In the markets

Stocks have been unchanged since 4:15 PM yesterday. If there is an imbalance of selling, the models will most probably calculate the necessary flows to add a marginal excess of buy-side liquidity by 10 AM.

If that’s the case, look for a conforming trend in fractal samples, 5-minute, 10-minute, hourly (higher highs and higher lows) and get aboard with a stop. It’s like an escalator. You don’t go up if you don’t get on.

A ton of stuff to run down this morning, starting with gold, silver, POCs and TPOs, oil and gasoline, stocks of course and bitcoin and… the fickle hand of fate in the vibe…