1/A LOT of critically important charts in this week's #DirtyDozen.

I cover growing trend fragility, a monthly sell signal, discuss why this *isn't* a major top buy why we should expect a 1-2 month correction to begin w/in the next few weeks, plus more.

https://t.co/qd6Old7Ehi

2/ High euphoria = high trend fragility

-Record net 19% FMS investors raking greater risk

-FMS cash level at 3.9% triggering a 'sell signal'

-Global Risk-Love in 97th %-tile going back to 1987

-Asia/EM Risk-Love signaling "euphoria" for 1st time since 2015
3/ “Two-month flows into DM and EM equity funds the highest since [Oct 2000]. November alone saw the highest monthly inflow into global equity funds on record. Also over a three-month horizon, we’ve now seen the highest inflows into equity funds on record” via BofA $EEM
4/ Asia ex-Japan Risk-Love indicator’s Euphoria / Bearish Signal implies weak 6-month forward returns in Asia/EM.
5/ $IYT triggered a sell signal in Jan.

Dec's Doji (yellow) gave us a sell setup. Jan's Outside Bear Bar closed on its lows & gave us a sell signal. But, the strong bullish thrust of the preceding 8 bars means this pullback will likely be bought after a 1-2m pullback.
6/ But, investors who continue to try and call a top will once again be disappointed…

The economic backdrop is not one you want to fade. 92% BofA’s proprietary suite of growth indicators “are flagging a Bullish/Neutral signal, the highest level on record.”
7/ BofA writes “The last 3 decades have not witnessed this combination of animal spirits and a system flush with liquidity. All regions across the world are, at present, privy to surplus free liquidity — currently growing at 55% YoY in the US (highest on record since 1980.”
8/ While the long-term economic backdrop looks increasingly bullish, the short-term has been widely discounted and is at increased risk of a washout.

Bloomberg points out that money managers are more long commodities now than they have ever been in at least a decade.
9/ The rebounding economy and wall of liquidity plus declining COVID hospitalizations (largely driven by increasing vaccination numbers) here in the US definitely support the reflation narrative.
10/ However, the same cannot be said for the rest of the world. The WSJ quotes a recent UBS report, saying “At the current rates of vaccination, only about 10% of the world would be inoculated by the end of the year and 21% by the close of 2022.”
11/ The US’s greater capacity for fiscal combined w/ its inordinate access to vaccines, means it’s likely to outperform the RoW on the growth front. That superior relative growth performance could upset the extremely crowded short USD positioning via USD smile dynamics.
12/ While I remain a cyclical USD bear, I do believe there’s a decent probability we’re about to see a multi-month counter-trend move. USDSEK’s monthly chart looks ripe for a reversal.

https://t.co/VqTXZ78Zdr
fin/ $XBI has reversed its multi-year bout of relative underperformance versus $QQQ. Bios have some of the strongest long-term charts at the moment. Illumina (ILMN) is one of these names with a great tape. Last month, the stock broke out of a 2 ½ year consolidation range.

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@Suman68082748 @thetwinkwolff @x_karran_x @Sunil9130 Lets stop the criticism guys. The lad is good. Losses happen. Losses to unranked players happen too. As do wins vs top 10ers. Let's accept both. Remember Sumit and the likes of him are the best we have. See the bigger picture please.

@thetwinkwolff @x_karran_x @Sunil9130 When the Europeans or South Americans were getting quality practice and tourneys week in week out at reasonable costs, our kids were playing on dung courts or learning outdated serve and volley on grass. Appreciate the fact that the last 10 years have been a hell lot better than

@thetwinkwolff @x_karran_x @Sunil9130 the 10 before that. Real change can't come in a day or even in 10 years. So let's grit our teeth and bide our time till we have an organic self sustaining system in place.

@siyer30 @SportaSmile @Cric_Writer @RomilShukla @amanthejourno

@thetwinkwolff @x_karran_x @Sunil9130 @siyer30 @SportaSmile @Cric_Writer @RomilShukla @amanthejourno Tennis is my favourite sport in the universe. Has always been. Will always be. I was in love with Steffi and Pete a lot before I fell for Sachin. And while I would love every toddler in my family to play sports professionally, I won't encourage them to pursue my favourite sport.

@thetwinkwolff @x_karran_x @Sunil9130 @siyer30 @SportaSmile @Cric_Writer @RomilShukla @amanthejourno It will be career suicide. In other sports, I can actually plan for my ward to be the next Lin Dan or the next Tiger Woods or the next Schumacher even from a base in India. With tennis, in 2020 I can't do that realistically. Just doesn't adds up. Even for total freaks of nature.

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#ஆதித்தியஹ்ருதயம் ஸ்தோத்திரம்
இது சூரிய குலத்தில் உதித்த இராமபிரானுக்கு தமிழ் முனிவர் அகத்தியர் உபதேசித்ததாக வால்மீகி இராமாயணத்தில் வருகிறது. ஆதித்ய ஹ்ருதயத்தைத் தினமும் ஓதினால் பெரும் பயன் பெறலாம் என மகான்களும் ஞானிகளும் காலம் காலமாகக் கூறி வருகின்றனர். ராம-ராவண யுத்தத்தை


தேவர்களுடன் சேர்ந்து பார்க்க வந்திருந்த அகத்தியர், அப்போது போரினால் களைத்து, கவலையுடன் காணப்பட்ட ராமபிரானை அணுகி, மனிதர்களிலேயே சிறந்தவனான ராமா போரில் எந்த மந்திரத்தைப் பாராயணம் செய்தால் எல்லா பகைவர்களையும் வெல்ல முடியுமோ அந்த ரகசிய மந்திரத்தை, வேதத்தில் சொல்லப்பட்டுள்ளதை உனக்கு

நான் உபதேசிக்கிறேன், கேள் என்று கூறி உபதேசித்தார். முதல் இரு சுலோகங்கள் சூழ்நிலையை விவரிக்கின்றன. மூன்றாவது சுலோகம் அகத்தியர் இராமபிரானை விளித்துக் கூறுவதாக அமைந்திருக்கிறது. நான்காவது சுலோகம் முதல் முப்பதாம் சுலோகம் வரை ஆதித்ய ஹ்ருதயம் என்னும் நூல். முப்பத்தி ஒன்றாம் சுலோகம்

இந்தத் துதியால் மகிழ்ந்த சூரியன் இராமனை வாழ்த்துவதைக் கூறுவதாக அமைந்திருக்கிறது.
ஐந்தாவது ஸ்லோகம்:
ஸர்வ மங்கள் மாங்கல்யம் ஸர்வ பாப ப்ரநாசனம்
சிந்தா சோக ப்ரசமனம் ஆயுர் வர்த்தனம் உத்தமம்
பொருள்: இந்த அதித்ய ஹ்ருதயம் என்ற துதி மங்களங்களில் சிறந்தது, பாவங்களையும் கவலைகளையும்


குழப்பங்களையும் நீக்குவது, வாழ்நாளை நீட்டிப்பது, மிகவும் சிறந்தது. இதயத்தில் வசிக்கும் பகவானுடைய அனுக்ரகத்தை அளிப்பதாகும்.
முழு ஸ்லோக லிங்க் பொருளுடன் இங்கே உள்ளது
https://t.co/Q3qm1TfPmk
சூரியன் உலக இயக்கத்திற்கு மிக முக்கியமானவர். சூரிய சக்தியால்தான் ஜீவராசிகள், பயிர்கள்
"I lied about my basic beliefs in order to keep a prestigious job. Now that it will be zero-cost to me, I have a few things to say."


We know that elite institutions like the one Flier was in (partial) charge of rely on irrelevant status markers like private school education, whiteness, legacy, and ability to charm an old white guy at an interview.

Harvard's discriminatory policies are becoming increasingly well known, across the political spectrum (see, e.g., the recent lawsuit on discrimination against East Asian applications.)

It's refreshing to hear a senior administrator admits to personally opposing policies that attempt to remedy these basic flaws. These are flaws that harm his institution's ability to do cutting-edge research and to serve the public.

Harvard is being eclipsed by institutions that have different ideas about how to run a 21st Century institution. Stanford, for one; the UC system; the "public Ivys".