Joe Biden: Out of Touch...Out of Control

* See UPDATES below...

Since Joe Biden announced his candidacy for 2020 President, I've written several articles involving him, which can be read here.

During that time and since my last article, many scandals have surfaced about him.

They're too numerous to mention here, so I'll let the following graphic illustrate some of his shortcomings and challenges that he faces, as he continues to campaign from his basement at home to try and convince voters that his economically-crushing/destructive socialist policies (such as Democrats' Green New Deal) will be of more benefit to all Americans...

versus

...President Trump's conservative policies touting job growth and increased wages, reductions in regulations, returning manufacturing, industry and technology to the U.S., fighting for free and fair trade with other countries, continuing to strengthen his national and international security agenda, continuing to support and promote innovation, freedom, liberty, and prosperity for all, etc...the opposite of what Joe Biden is promising if he's elected President this Fall.

Voters renounced former President Obama's left-leaning policies when they rejected Hillary Clinton and voted for Donald Trump as President in 2016. Joe Biden's policies are so far out in left field, they'd make Obama's look like conservative programs, if enacted.

I can't imagine that Americans are ready to embrace a Venezuela-style of government any time soon, so I think Biden's Presidential bid is a non-starter already...especially as a highly-targeted/focused speedy economic recovery and national security strategies will be the number-one priorites that will need to be implemented to combat the wide-spread and ravaging damages caused, not only in the U.S., but also around the world, by the COVID-19 virus that spread like wildfire from China earlier this year.

The unleashing of a multitude of social programs costing American taxpayers trillions of dollars will not do the job of fixing the crushing economic and national security effects, et al, of that fatal incident. In fact, that's ridiculous. As it is, the U.S. National Debt is exploding, compounded by those effects, the future costs of which will be borne by the youth (taxpayers of the future) that Biden is currently attempting to woo. At the moment, every single taxpayer is on the hook for $203,712.

And, it's only going to get much worse...especially under the crippling political headwinds of a socialist government.

* UPDATE May 24...

It seems like Joe Biden is also out of touch with the African-American community with his comments this week during a radio interview, which angered many of them on the left and the right.

Furthermore, his major policies and laws that he helped craft and pass when he was a Senator years ago (for which he was excoriated by Senators Harris and Booker during the Democrat debates last year, and by others since then) did not benefit African-Americans (as he repeatedly claims). Rather, they were to their detriment.

In his subsequent non-apology "apology," Biden characterized his comments as a "joke"...the word "sorry," however, was notably from that statement.

He's also alienating women with comments like this...by the way, does that mean that whoever votes for him doesn't believe all women, or even any woman who claims they were sexually assaulted or harassed?

Whatever happened to the #MeToo women's movement and the "Believe All Women" mantra when the accused is a Democrat? Those women who began that movement (as well as the liberal media) seemed to have disappeared in this instance and only surface and make their voices heard loud and clear when the accused is a Republican. It would, therefore, appear that such a movement was never a serious one, but only a matter of convenience...and a rather "inconvenient" one for the alleged assaulted/harassed victim.

It seems there may have been some nefarious transactions between Joe Biden and the former Ukrainian President and Attorney General when he was Vice-President, and it appears that this matter is under investigation in the Ukraine.

The Senate is investigating Joe Biden's son, Hunter Biden, regarding his work in the Ukraine...which may expose Joe Biden's involvement in any nefarious activities, as well.

There are many questions regarding Obama's FBI investigation of the now-debunked Trump campaign-Russia collusion narrative and Biden's involvement in its origins. Those origins and that investigation are under investigation by the Attorney General's office and by the Senate...it's anticipated that those should wrap up sometime later in the summer, so we should learn more at that time.

And, finally (for now), there's Joe Biden's questionable history (then and now) with China.

Do these recent revelations leave much of anything that merit support for Joe Biden for President?

I wonder what shoe will drop next between now and the November Presidential election.

* UPDATE May 31...

Next shoe drop (this follows the last several days of riots across America)...looks like Biden supports rioters over law and order...when will he support old ladies who get beaten up while trying to protect their stores instead of these thugs?

Twitter Link

* UPDATE June 4...

Joe Biden is losing the support of police groups because of his failure to support them during the riots. Hundred of officers have been beaten by rioters and several have been killed...as he stands by and witnesses the U.S. descend into anarchy, while his staffers help bail them out of jail ...

Twitter Link

* UPDATE June 12...

* UPDATE June 20...

* UPDATE June 30

A well-written eye-opener, and a must-read, by Victor Davis Hanson...

"He is in a far more dire mental state than a physically failing FDR was in his 1944 campaign for a fourth term."

Source: NationalReview

U.S. Markets Emerging From Chaos

* See UPDATE below...

The following daily, weekly and monthly charts of the four U.S. E-mini Futures Indices show that they are at the emerging edge of chaos [which is defined by three future-offset moving averages (green 5MA, -3), (red 8MA, -5), and (blue 13MA, -8)].

In all of these three timeframes, the NQ is the strongest and is the most favoured to continue its rally, while the ES is next, followed by the YM and RTY.

In the short term, watch for all three of the moving averages to curl upwards on the daily timeframe (with the green above the red above the blue), and for price to break and hold above all of them, to confirm that a sustainable rally is supported.

In the medium term, watch for all three of the moving averages to curl upwards on the weekly timeframe (with the green above the red above the blue), and for price to break and hold above all of them, to confirm that a sustainable rally is supported.

In the longer term, watch for all three of the moving averages to curl upwards on the monthly timeframe (with the green above the red above the blue), and for price to break and hold above all of them, to confirm that a sustainable rally is supported.

As well, the NQ is the only index that is above both the 50 and 200 moving averages on all three timeframes. These two moving averages pose as resistance or support levels on the YM, ES and RTY on all three timeframes. Look for the YM, ES and RTY to eventually break and hold above both of these moving averages in order to support any further rally and breakout to new record highs by the NQ.

Furthermore, we're about to see a bullish Golden Cross form on the 50 and 200 MAs on the NQ daily timeframe. If that occurs and holds, we'll likely see the rally continue.

If the NQ fails to continue its bullish leadership, we may see all four indices drop to, potentially, new lows, especially if the NQ drops and holds below its 50-week MA (currently at 8245).

YM/ES/NQ/RTY Daily charts

YM/ES/NQ/RTY Weekly charts

YM/ES/NQ/RTY Monthly charts

As of Friday's close, the Balance of Power still rests with the bulls on the SPX, as shown on the monthly chart below.

If the BOP drops and holds below the zero level, that control will switch to the bears on this timeframe, and we may see the SPX drop to around 2675 (the apex of the expanding triangle), or lower.

SPX Monthly chart

The SPX:VIX ratio is holding above 80 and may be headed towards its next resistance level at 100, as shown on the following daily ratio chart.

All three technical indicators (RSI, MACD and PMO) are hinting of higher prices for the SPX.

Under that scenario, the RSI should hold above 50, and the MACD and PMO should begin to swing upwards.

SPX:VIX Daily ratio chart

SUMMARY

If I were a betting woman, I'd say that the SPX has around a 55% chance of moving higher over the coming days/weeks, albeit in a choppy and, sometimes, volatile manner.

Keep an eye on the information and charts that I've shown above as potential directional gauges in the days/weeks ahead.

* UPDATE May 18...

Here's how the U.S. Major Indices fared throughout the day and into the close...

SPX Monthly chart

SPX:VIX Daily ratio chart

Happy Mother's Day!

From This Week's "Smile File"...A Factor of One Billion

From this satirical website, they pose this "interesting" take on COVID-19 and the weather...😊

Source: BabylonBee.com

China's Lack Of COVID-19 Transparency Is Stunning

* See IMPORTANT UPDATES below...

It's been six months since China was aware of the COVID-19 outbreak in Wuhan. The WHO finally declared the virus outbreak a pandemic on March 11...four months later and well after it had spread rapidly around the world, inasmuch as China did not immediately shut down travel from Wuhan to the rest of the world when it quarantined and cut off travel from that area to the rest of China.

To date, little information has been disseminated from China to the rest of the world surrounding its origins, epidemiology, its symptoms, its effects, how it spread, etc.

Instead, from the dozens of reports emanating from western countries during this time period, it appears that China quickly cornered the markets on N95 masks and scooped up over 2 billion of them from other countries and, subsequently, shipped millions of faulty masks and equipment all around the world, and even sent empty planes back to countries after having agreed to fulfil those orders, when they were urgently needed.

A couple of those reports are shown below...with more live updates here.

Source: ZeroHedge.com

Source: Twitter

Furthermore, China also threatened to announce strategic control measures over medical products and ban exports of its drugs, as I reported in my post of March 9...an excerpt is shown below.

To date, there have been 3,029,452 confirmed cases of COVID-19 world-wide and 210,374 deaths, as shown on the CSSE map below.

A gross lack of transparency is a form of passive aggression and is the equivalent of wilful negligence or destruction.

Does it not seem logical that the longer the Chinese Communist Party (CCP) and their leader refuse to share full and truthful data and information, as well as provide access to the lab(s) and records in Wuhan, the more wilful negligence/destruction they will cause world-wide?

At some point, they will be held accountable.

President Trump was asked about restitution from China in today's White House COVID-19 press briefing...his response is here.

Source: Twitter

In the meantime, which foreign investors are willing to buy into China's Shanghai Index (SSEC) to further prop up the CCP regime?

* UPDATE May 4...

This detailed article provides a summary of information and timelines contained in a 15-page dossier prepared by Western governments on the COVID-19 contagion in China.

Part of its introduction includes the following statement, "The 15-page document, obtained by The Saturday Telegraph, lays the foundation for the case of negligence being mounted against China."

No doubt, there will be more reports in due course, as further investigations dig deeper into all aspects of this tragedy. We'll see if the Chinese leadership is eventually held to account for this global disaster.

* UPDATE May 7...

Source: Twitter

Source: Twitter

* UPDATE May 8...

Source: WSJ.com

SPX Bull/Bear Battle Zone

Shown on the following weekly chart of the S&P 500 Index (SPX) is a one-period moving average (hlc/3) in the form of a blue cross.

As such, each cross represents weekly support and resistance levels. I've chosen to highlight a zone/range taken from the moving average from the week of March 2 (resistance at 3003.54) to the week of April 6 (support at 2727.65). The midway level is 2865.

The Balance of Power (BOP) currently lies with the sellers on this weekly timeframe.

If price rallies and holds above 2865, look for the BOP to break and hold above the zero level, as a potential confirmation that buyers may be serious about taking the SPX to higher levels to, at least, 3003.54, or higher.

As I mentioned in my post of April 15, 60.00 represents a significant support level for the SPX:VIX ratio, as shown on the following daily ratio chart.

At that time, a price of 2750 for the SPX seemed to be tied to the 60.00 level...both critical levels in the battle between bulls and bears, in the near term.

The ratio price has fallen back and closed just above 60.00 on Tuesday. Furthermore, Tuesday's SPX closing price is 2736.56.

A break and hold below 60.00, once again, could see the SPX plunge to a new low...below that made on March 23 (2191.86).

On the latest ratio rally, the RSI broke above its downtrend, the MACD histogram made a new swing high, and the PMO also broke above its downtrend. Any SPX rally should be accompanied by the reclamation of the 50.00 level on the RSI, higher histogram bars on the MACD, and a higher PMO level.

Under such a scenario, should the SPX break and hold above 2865, look for the ratio to break and hold above 80.00. Furthermore, as I mentioned above, watch for the BOP to break and hold above the zero level, as a potential confirmation that buyers may be serious about taking the SPX to higher levels to, at least, 3003.54, or higher.

9 Years Ago Today...iBlogged

Since writing this post after one year of Blogging, I'm happy to report that I'm still at it...9 years from 'day one.'

Hope to see you again next year! 😊


And, I'd like to thank the hosts of the following websites who kindly publish my articles...

• Investing.com
• SlopeofHope.com
• TalkMarkets.com
• McVerryReport.com

SPX:VIX Ratio: The Next Hurdle

The next hurdle for the SPX:VIX ratio is 80.00, as shown on the following daily ratio chart.

As I mentioned in my post of March 12, 2750 was an important level for the SPX. It was where its counterpart, the S&P E-mini Futures Index broke below the bottom of a long-term uptrending Andrew's Pitchfork channel (taken from the 2009 low to 2020's high) and was trading at 2441.00 that day. Such a technical break usually signals that a new bearish trend would form. On March 23, the SPX hit a new low of 2191.86 and reversed the next day.

The SPX closed back above 2750 on April 9 and remains above as of Tuesday's close at 2846.06.

For short-term clues on the where the SPX may be headed, the important support and resistance levels are identified on the SPX:VIX ratio. As I mentioned above, if this ratio can reclaim the 80.00 level, its next target would be 100.00...and we'd see the SPX continue to rally under this scenario.

Conversely, should the SPX:VIX ratio break and hold below 60.00 once again, then we'll see the SPX plunge below 2750 and possibly make a new low...below that made on March 23.

The Queen's Easter Sunday Message 2020

Happy Easter 2020

Thank You, Doctors! 💖

And...thank you to all healthcare professionals,
caregivers, first responders, volunteers, and
essential services providers! 

Please stay safe in this time of crisis.💖

A Message of Hope

The Queen's coronavirus message...

SPX Pivot Point Values For April

The pivot point support/resistant values/targets for the S&P 500 Index (SPX) for the entire month of April are based on the high/low/close of the March monthly candle, as shown on the following pivot point calculator.

Source: nationalfutures.com

The PP of each monthly candle is depicted as a blue cross on the chart of the SPX below.

You can see, at a glance, where the current price is relative to those...giving an indication as to its relative strength/weakness as the price moves above/below each one in the coming days/weeks/months.

As of Friday's close, it's above the PP of the August 2017 candle and below all subsequent ones. A great deal of price resistance lies above, as well as an unfilled gap for April's candle.

I'm not confident that we'll see any convincing and sustainable strength arise anytime soon...due to the global crisis caused by the covid-19 pandemic.

However, volatility has abated somewhat recently, as depicted on the following SPX:VIX daily ratio chart.

All three RSI, MACD and PMO technical indicators are rising, but price is still below 60.00...a major price resistance level that must be recaptured and held if the SPX is going to have any chance of a recovery soon.

Otherwise, failure to do so, will likely mean lower prices in the coming days/weeks for the SPX, inasmuch as such high volatility levels are not the norm and are usually only sustained during periods of extreme economic and financial instability.

In any event, we'll likely see wild volatile swings in both directions until such time as the price on this ratio returns to, at least, the 200 level.

President Trump: A Reliable Trading Partner?

* IMPORTANT UPDATE below...

What kind of person refuses to help his neighbour, especially when both neighbours depend upon each other for essential survival?

President Trump became that kind of person when he issued this edict to 3M yesterday to stop sending essential protective medical gear to Canada for use in fighting the global Covid-19 pandemic. I believe he is applying this order (under his invocation of the provisions of the Defense Production Act) to all U.S. companies and all medical equipment, not just to 3M and not just masks. (I cried when I saw the headlines this morning when I got up...as a Canadian who is immunocompromised and currently battling a lung infection due to COPD-related issues, this hit me especially hard.)

Canada, Mexico and the U.S. spent months renegotiating the previous NAFTA agreement, and eventually all leaders and governments signed the new USMCA agreement relating to the tri-lateral trade of goods and services...all at the insistence of Mr. Trump, who was so anxious to strike a new trade deal. Canada negotiated in good faith on the assumption that, once signed, it would be implemented.

With the onslaught of the global Covid-19 pandemic, the three leaders agreed to continue to allow the free flow of essential goods and services among the three countries and across their respective borders, while shutting down all non-essential travel to try and contain the spread of the virus.

The President is deliberately endangering the lives of Canadian health care workers and Canadians by breaking this essential flow of medical goods. The ramifications of this could, unintentionally, boomerang back onto the U.S. due to, first, the loss of production of essential reciprocal goods and services, and, then, once the pandemic has abated somewhat, other Canadian goods and services upon which Americans rely for their day to day lives, because of the loss of Canadian lives in those important fields. American lives could, ultimately, also be lost...he has not thought this through very well, as the consequences could be exponentially multiplied and severe.

Mr. Trump would not only have the blood of Canadians on his hands, but Americans, as well. There is a special place in hell for bullies in leadership roles, and he leads the pack with regard to this order. He deserves no respect, inasmuch as he does not even respect his own people, let alone his neighbours. Nor does he act in good faith when negotiating trade deals. He proved that, along with his gross incompetence, yesterday.

The President has proven that the U.S. cannot be trusted as a reliable trading partner for essential services and supplies during this medical crisis. Canada will have no alternative but to look to other nations to establish a reliable flow of these essential items...but such help will likely be too late, if at all, and many lives will be lost in the meantime.

He claims to be a Christian and to leave no one behind...but has proven otherwise, as he has condemned many people, including Americans, to an unnecessary hardship and death. He does not deserve to be the leader, nor the military Commander-in-Chief, of any country...and deserves no respect. His legacy will be tarnished with this grossly inhumane episode.

P.S. Finally, I mean no disrespect to my American "cousins" by my rantings...they, in no way, reflect how I feel about you and for the gratitude that I have for all that our two countries have shared over many years.

I was trying to highlight the importance of ensuring that all these essential goods and services continue to flow between our countries, especially during this crisis, since they and their ingredients are so intertwined...e.g., 1000s of Canada's nurses travel back and forth across the border into the U.S. every day to help out in the U.S. health care system and hospitals. Also, Canada supplies the materials needed (from our many pulp and paper mills) to make the N95 masks, and we supply gloves and test kits.

If our people die because Mr. Trump refuses to send us any masks that are superfluous to their needs, then we won't be able to continue with our support because we won't have the manpower...he really hasn't thought this through.

Furthermore, if he continues to turn his back on Canada and other countries that need help in this urgent crisis, then their leaders will have no choice but to look to source their medical equipment from another supplier(s)...and China is just sitting there waiting with open arms, ready to take America's place, not only in this instance, but in meeting their future needs (by supplying other goods and services beyond what they currently provide), as well.

The President really hasn't thought this through, or looked at the longer-term consequences that isolating his country from the rest of the world would bring...but, no doubt, President Xi has and has likely prepared many plans for many scenarios for many months/years to come. And, I wouldn't underestimate Mr. Xi's resolve or laser focus on actualizing his vision in due course.

I REPEAT...President Trump really hasn't thought things through...not only with respect to this pandemic, but to his entire "America First" agenda.

There has to be a balance in all things, lest total chaos ensue for many years to come...resulting in a gradual shift of power from the U.S. to China.

In the meantime, may everyone be safe and stay healthy during this crisis and beyond.

* UPDATE April 6...

Thank you 3M and President Trump!...😊

I hope such reciprocal trading can continue between neighbours during the course of this crisis...and in the long run...there is honour in so doing.

N.B. Read this CityNews article at this link