Market

Just because we are seeing divergences and negative breadth doesn’t mean the market has to come down. We now have more short setups than we have had for a while. These models only short on pops of 2-4% so none of them may end up triggering, just shows things are a bit overbought short term.

Rates popped a bit yesterday and look up a bit this morning. Something to keep an eye on.

Speaking of divergences the Dow and Small Caps look a bit better, but still not great. The Dow did have an undercut and rally at it’s 50 day.

Central Banks Expect to Snap Up More Gold This Year Amid Dollar Pessimism-WSJ

Something has been driving gold. GLD actually looks like it may be a bit of a double top here.

TIPs suck. Here’s when the inflation-fighting power of TIPS bonds and ETFs really kicks in-MarketWatch

ESG

Judge tosses Exxon Mobil lawsuit against activist shareholder Arjuna over climate proposal-CNBC.com

A federal judge in Texas on Monday dismissed a controversial lawsuit by Exxon Mobil against activist shareholder Arjuna Capital over a climate proposal, ruling that the investor’s promise that it would not submit a similar resolution in the future had rendered the case moot.

Climate Change

Covid

I can think of a few more people who could be brought into that lawsuit. Kansas sues Pfizer, saying it misled the public over COVID-19 vaccine-MarketWatch

In a lawsuit filed on Monday, the U.S. state alleges Pfizer made false statements about the safety of its COVID-19 vaccine and then worked to “conceal and suppress” information linking it to various adverse events including myocarditis and failed pregnancies. 

“Pfizer made multiple misleading statements to deceive the public about its vaccine at a time when Americans needed the truth,” Kobach said.

Election

White House Complains Of Biden ‘Cheap Fakes’-Daily Wire

Viral clips showing President Joe Biden in situations in which he looks to be frail or confused are being dismissed as “cheap fakes” by the White House.

Press secretary Karine Jean-Pierre sought to discredit the videos, which have proliferated amid concerns about 81-year-old Biden’s mental acuity and physical fitness as he runs for a second term, when a reporter pressed her to address them during the White House press briefing on Monday.

“I think you all have called this the cheap fakes video, and that’s exactly what they are. They are cheap fakes video,” Jean-Pierre said from behind the podium.

Border

Biden to Give Legal Status to Immigrant Spouses of U.S. Citizens-WSJ

His advisers also pointed to internal Democratic polling that found that most Americans support granting legal status to spouses of U.S. citizens, even if they entered the country illegally.

The new program also has the benefit of targeting a population that immigration advocates have told the White House had been feeling neglected. Though the administration has created several new initiatives to grant more than a million newly-arriving immigrants work permits, immigrants without permanent legal status who have been living in the U.S. for decades—who are primarily Mexican—haven’t benefited.

War

Sounds like a great idea. NATO Considering Greater Deployment Of Nuclear Weapons, Alliance Chief Says-Daily Wire

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