Markets dodged another bullet as Irma was bad but not as bad as it could’ve been. That’s not to make light of the situation, it was a category 6 just the other day. But before any of you get excited Jesse Colombo @thebubblebubble tweeted a report from calculatedriskblog.com that Harvey could result in 300,000 new mortgage delinquencies.
Another week, more mayhem in the world. What else is new? Last time I showed you the chart of the late 60s. The more I look at this situation, the more I think these times are more treacherous than 50 years ago.
You know by now that nothing bad happens to the market when the BKX is up. Dow theorists will also tell you nothing bad happens when the Transports are up. So when both are up there’s no use fighting the tape.