Today, Sunday July 20, 2014 is supposed to be the Global Economic Reset. 100th Anniversary of the First World War too it turns out. The French Finance minister suggested it while making chit chat at an Economic Forum. Well, I am waiting still. Stuff is still working like it always did AFAIK.
Don't they know we just had one with the June Quad Witch? It seems to me there is a market reset every solstice and equinox, 4 times a year. Clean slate. But that is so old school, you know. There is in effect a reset every option expiration now that we have enough computer power to zero it in 15 minutes. They likely did that so they can flee and be nowhere near the Great Unwashed this afternoon. I assume it must be later today before Singapore starts trading at 6 Eastern, 5 Chicago. I expect ES will flatline. That will be a head turner. Stay tuned for the graph.
This of course follows the hundreds of Dooms Days that have passed, let alone the entire month of July and some act of congress on July 1. Market seems as screwy as it always was. I guess I will update this as necessary if the internet keeps working. Your faithful financial scribe, <3.
Update: 5:30 Central Time: No flatline. ES is same as usual, opening down a bit, and now recovering to 1970.50-ish. Somebody tell those Reset morons if they haven't got the memo yet.
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