Wednesday, March 6, 2024

SPX, COMPQ, INDU, and The Big Lebowski

(Warning!) Random thought/rant:  Yesterday I was watching a show and heard the expression "your truth" -- and it occurred to me that this expression is essentially an oxymoron.  "Your" implies subjective possession, but "truth" transcends subjectivity and exists independent of you and me.  Thus, the truth cannot be predicated with "your."  Either something is true or it isn't, regardless of whether we believe it or not -- we don't own the truth even if we manage to align our personal beliefs with it.  And it continues to exist for anyone to discover, even after we're 6 feet under.  Thus, there simply is no such thing as "your" truth or "my" truth.  

Instead of "your truth," we used to say "your opinion," which is the proper way to express the underlying reality.  This may seem nitpicky, but clear language allows us to think (both individually and as a group) with accuracy.  Further, two incorrect beliefs are smuggled into the conversation, and into our thoughts, with the expression "your truth":
  1. Whatever I believe is elevated to being reality, regardless of whether it aligns with reality or not.
  2. Objective truth doesn't exist (the word "truth" is being quietly redefined to mean "opinion," which means (if we accept that, tacitly or otherwise) all truth is just, like, your opinion, man.).  

Anyway, I'm against destroying the language, because it destroys our ability to communicate, which in turn destroys our ability to think and act collectively.  Which can only lead to society moving backwards.  

Rant over.

Yesterday, the market dropped for a minute or two, but it's unclear if that means anything, even for the near term:

Bigger picture, INDU continues to suggest that bulls will maintain control at the larger time scales for the time being:

COMPQ is near a zone that could act as resistance for a time:

That's about it for today.  Trade safe.

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