On Wednesday, the TIKI closed at 18. That was the highest print in seven months. The tick count for the Russell 2000, TIKRL, closed at 1,000. That’s a new record high for the data that I have, which goes back to April. For comparison, the TIKRL printed at 776 at the rally peak on January 6th. These two indicators are flashing very overbought signals (short term).
Here is me calling Larry Kudlow a fool:
“Euphoria has officially broken out on CNBC with Kudlow screaming about “panic buying” and talking heads raving about how a giant rally is “in the air.” Fools.”
Was I being unfair? Nope. That quote is from this post on January 5th. The market topped the next morning, and then panic selling ensued. The exact opposite of what Kudlow predicted.
Guess what? Kudlow started shrieking about “panic buying” again on CNBC last night. If the Kud-Blow indicator is consistent, then the market will be peaking soon, if it hasn’t done so already.
No More Cars, Please
In case you missed it last night when I posted it in the comments, here are 13 cool pictures of cars piling up around the world.