The Fed has raised another 75 basis points.

‘You should not fight the fed’ is really all I can say and do so I keep backtracking on stocks and buying one year t-bills now 4.8 percent.

This morning the market is rallying even though the jobs number is still great. The FED is raising rates to slow down the economy so the rising jobs number is really not what the bulls need.

Very little makes sense to me right now so I will share this chart of the S&P which is troubling. I stretched out the rolling moving averages to show just how rare this type of sell-off is and how technically dangerous a position the markets seem to be in.

What I read here is stocks need to stage a very strong rally right about now for these long term moving averages to turn quickly. The last two times these long term moving averages crossed over, a lot of price pain took place.

On a wierder note…Cathie Wood has teamed up with the Titan app (backed by all kinds of big VC money including A16z) to launch her VC Fund to retail investors with 4 percent annual fees. The same Cathie who was a media darling and now down 75 percent in her flagship fund.

I got the ‘pitch’ which I tweeted about as distasteful and a sign that we can’t bottom in tech stocks with this kind of product being sold to the public. Here is the cold email:

You can read the comments in my Twitter thread here.

I want to be optimistic, but the FED is against me and the bad products keep coming as if there are endless suckers. If there are endless buyers of a Cathie Wood product, the FED has no reason to stop.