Punchbowl Empty. The Biden Broadcasting Corporation.

Baltic Dry Index. 1294 +13  Brent Crude 43.58

Spot Gold 1955

Coronavirus Cases 18/9/20 World 30,224,645

Deaths 950,829 

Never believe anything in politics until it has been officially denied.

Count Otto von Bismarck.

We open, as usual, with life in the central bankster fuelled stock casinos. While the Fed this week didn’t exactly take away the punch bowl, the punters are all miffed that Chairman Powell and his bartenders didn’t top it up as demanded. Some of the punters are starting to dry out!

Others are starting to worry about what a Biden-Harris presidency might mean for next year. And well they might. Lately, the Biden Broadcasting Corporation and especially its World Service radio arm, has gone into overdrive to overtly influence the US elections.

They have already cleared Vice President Biden and his son Hunter of corruption in the Ukraine and declared that the FBI is not investigating either. Well if the extreme left-wing BBC says so, it must be true, right?

21^st century adage: Is that true, or did you hear it on the BBC?

Asia defies Wall Street weakness but economy, election worries cap gains

September 18, 2020 1:05 By Tom Westbrook, John McCrank

SINGAPORE/NEW YORK (Reuters) - Asian stocks inched up on Friday, despite Wall Street declines, but struggled to make deeper gains as worries about a faltering economic recovery kept investors to the sidelines or seeking safer harbour in assets such as the Japanese yen.

Oil prices held hefty overnight gains after OPEC flagged a crackdown on member states that did not cut output and the dollar was back to nursing losses after a brief journey higher in the wake of Wednesday’s Federal Reserve meeting.

MSCI’s broadest index of Asia-Pacific shares outside Japan looked set to end the week 1% ahead following two weeks of tech-led losses. It rose 0.2% on the day while market moves around the region were small.

Japan’s Nikkei edged 0.1% higher. The ASX 200 was flat, while stocks in Shanghai, Hong Kong and Seoul rose between 0.2% and 0.4%.

U.S. stock futures were soft, with S&P 500 futures down 0.2%, though Nasdaq 100 futures turned positive by the middle of the Asia session to trade 0.07% higher.

“The bigger picture issue is that markets, particularly growth and tech stocks, have run very hard into the end of August, which has left them somewhat vulnerable,” said AMP Capital chief economist Shane Oliver.

“There’s uncertainty ahead of the U.S. elections...China-U.S. tensions keep creeping in and on top of that there’s now uncertainty about how the recovery will proceed from here in the absence of more stimulus in the U.S.”

Overnight data showed recovery in the U.S. labour market stalling and Wall Street indexes fell for a second straight session amid disappointment that the Fed made no new monetary easing commitments at its meeting this week.

The S&P 500 ended down 0.84%, and the Nasdaq dropped 1.27%. The Nasdaq’s losses put the index down roughly 10% from a record high hit early in September and have it tracking for its worst month since March.

“Unlike June, there is more fear of a deeper correction,” analysts at Singapore’s DBS Bank said in a note - since the Nasdaq is below its 50-day moving average, a key technical support level, and the U.S. election is fast approaching.

“The landscape is more challenging compared to three months ago.”

In contrast to the Fed, the Bank of England made clear overnight that it is open to further aggressive easing and is looking closely at taking interest rates negative.

More

https://uk.reuters.com/article/uk-global-markets/asia-defies-wall-street-weakness-but-economy-election-worries-cap-gains-idUKKBN269006

But back in the real economy, despite all the trillions of new fiat money from the Magic Money Tree, no sign of 2019 returning. Crude oil seems to be signalling inflation ahead. Covid-19 signalling, hurry up with that vaccine, young people are getting reckless.

Europe’s Car Sales Fall 18%, Dashing Hopes for a Comeback

By Oliver Sachgau

September 17, 2020, 7:00 AM GMT+1 Updated on September 17, 2020, 8:38 AM GMT+1

European car sales plunged by nearly a fifth in August, dashing hopes that the industry was starting to recover from the pandemic and suggesting that the market could remain depressed through year-end.

The results snapped a three-month streak of easing declines, the European Automobile Manufacturers Association said Thursday. Sales had slipped only 3.7% from a year ago in July.

Double Dip

European car sales fell 18% in August after three-month run of recovery

Source: European Automobile Manufacturers Association

Note: Figures are for European Union, European Free Trade Association and U.K.

While government subsidies helped sales recover in recent months, France’s scrappage program that offered 5,000-euro ($5,900) subsidies toward new-car purchases expired at the end of July. Coronavirus infection-rate spikes in France and Spain now pose a renewed threat.

The Stoxx 600 Automobiles & Parts Index fell as much as 2.3% in early trading, the day’s worst-performing subgroup on the wider European gauge, with Porsche Automobil Holding SE, Volkswagen AG and Renault SA among the biggest losers.

Last month’s sales drop was worse than the 15% decline that Michael Dean, a Bloomberg Intelligence analyst, anticipated based on data reported by the top-five countries in Europe that account for almost three quarters of sales. The fall is surprising given the expectation of some pent-up demand after months of lockdowns, he said in a report this week.

“Sales are on track to decline by at least 20% in 2020, and the drop may be worse if August’s setback is an indication that July’s demand bounce was only a short-lived recovery supported by subsidies,” Dean wrote.

Government Subsidies

Europe’s new-car registrations have fallen by almost a third this year to 7.3 million. Sales have held up better in the U.S. and have started growing again in China.

German Chancellor Angela Merkel has held firm against calls by the country’s auto industry for more state aid, despite some of her ministers calling for additional help. The slump has had an outsize effect on suppliers that have seen orders for components crater and been pressured to cut prices. Continental AG, one of the world’s largest parts makers, said this month it will cut as many as 30,000 jobs, while Schaeffler AG is culling 4,000 positions and closing or selling several plants.

https://www.bloomberg.com/news/articles/2020-09-17/europe-s-car-sales-setback-stokes-fear-of-over-20-annual-drop?srnd=premium-europe

UK employers scale back hiring plans for 2021, CBI says

September 18, 202012:11 AM

LONDON (Reuters) - Far more British businesses than last year are planning to cut recruitment of new staff or freeze hiring entirely over the next 12 months, following the hit from the coronavirus pandemic, a survey showed on Friday.

The findings represent a sharp turnaround from last year, when a large majority of companies said they intended to keep up or better their rates of recruitment.

The annual report from the Confederation of British Industry and the Pertemps Network Group recruitment consultancy showed 51% of companies planned to maintain or increase recruitment next year, while 46% foresaw a reduction or a complete stop.

The net balance of +5% compared with +56% in last year’s survey.

“The UK labour market has been under heavy stress since the outset of the Covid-19 crisis and, although the economy has started to re-open, pressure on firms remains acute,” said Matthew Fell, the CBI’s chief policy director.

One in three of companies said they planned to implement a pay freeze across all roles - compared with one in 20 in last year’s survey.

The figures chimed with a Bank of England survey on Thursday that showed a “large proportion” of companies planned to delay or cancel their annual pay reviews.

---- Data on Tuesday showed Britain’s unemployment rate increased to 4.1% in the three months to July from the 3.9% level it had clung to since early 2020.

The Bank of England has forecast that unemployment will hit 7.5% at the end of this year, when it is expected to expand its bond-buying stimulus programme again.

The CBI/Pertemps survey of 248 companies was conducted between Aug. 17 and Sept. 4.

https://uk.reuters.com/article/uk-britain-economy-jobs/uk-employers-scale-back-hiring-plans-for-2021-cbi-says-idUKKBN2683FD

Bank of England looks harder at negative rates in case troubles deepen

September 17, 202012:10 PM By Andy Bruce, David Milliken, William James

LONDON (Reuters) - The Bank of England said it was looking more closely at how it might cut interest rates below zero as Britain’s economy faces a triple whammy of rising COVID-19 cases, higher unemployment and a possible new Brexit shock.

The BoE’s monetary policymakers said the world’s sixth-biggest economy was recovering faster than they had thought as recently as last month, and they voted unanimously to keep their main stimulus programmes on hold for now.

But the BoE said its Monetary Policy Committee had been briefed on how a negative Bank Rate “could be implemented effectively, should the outlook for inflation and output warrant it at some point during this period of low equilibrium rates”.

Governor Andrew Bailey and some of his colleagues have previously said that they were looking at the pros and cons of following the lead of other central banks, including those in the euro zone and Japan, and taking rates negative.

The BoE said on Thursday that it would “begin structured engagement on the operational considerations in 2020 Q4”, a sign that it would look at how to take rates below zero without hurting banks’ ability to lend and damaging the recovery.

More

https://uk.reuters.com/article/uk-britain-economy-boe/bank-of-england-looks-harder-at-negative-rates-in-case-troubles-deepen-idUKKBN2681NU

Finally, the USA’s dirty tricks presidential campaign, looks like getting dirtier and more interesting next week. What did Vice President Biden know and when did he know it? What action(s) did he take? Was there a quid pro quo?

Treasury flagged foreign money flowing to Hunter Biden-tied firms as ‘suspicious’

Senate panels investigating whether law enforcement, U.S. intel turned blind eye to concerns.

Updated: September 16, 2020 - 9:55pm

A Treasury Department agency that polices financial threats such as money laundering flagged several foreign transactions to Hunter Biden-connected businesses as "suspicious" during the end of the Obama administration and the beginning of the Trump administration.

The concerns from the Financial Crimes Enforcement Network (FinCEN) were highlighted in Suspicious Activity Reports turned over to Senate committees over the last year in conjunction with investigations into the Russia and Ukraine scandals, according to several officials familiar with the evidence.

As those Senate investigations wind toward the issuance of their first official report later this month, an essential question has emerged: Did U.S. law enforcement or intelligence agencies do anything to determine if the money flowing to Vice President Joe Biden's son posed any criminal or intelligence threats? Officials at Treasury, FBI and the Office of Director of National Intelligence declined comment.

Senate Democrats first called attention to the existence of the SARs in a little-noticed letter late last year and are now bracing for the flagged financial transactions to be a major revelation in a joint report they expect to be published by the GOP-led Senate Homeland Security and Governmental Affairs and the Senate Finance Committees as early as next week. 

"The Republicans have had this in their back pocket for some time to make headlines as the election drew closer," one Democratic source told Just the News.

A lawyer for Hunter Biden did not return a call requesting comment. Spokesmen for the two Senate committees declined comment.

The SAR reports were requested as Senate investigators dug into a labyrinth of global businesses that Hunter Biden and his business partners became involved with in Russia, China, Ukraine and elsewhere while his father Joe Biden served as the vice president and Obama administration foreign policy point person. That includes Hunter Biden's controversial addition in spring 2014 to the board of Burisma Holdings, a Ukrainian gas firm with a long record of corruption allegations.

----The American suspicious transaction reports turned over to the Senate committees are the second known instance of red flags raised about foreign money flowing into business firms associated with Hunter Biden.

In February 2016, the Latvian government sent a warning to Ukrainian prosecutors that several payments from Burisma to an account in New York controlled by Hunter Biden's Rosemont Seneca Bohai firm appeared suspicious, according to a copy of the letter obtained by Just the News and Latvian authorities.

More

https://justthenews.com/accountability/russia-and-ukraine-scandals/treasury-flagged-foreign-money-flowing-hunter-biden-tied

Fake News CBS Caught Using Photo From Latinos For Trump Event in Phoenix and Tagged it as Biden’s Florida Event!

Published September 16, 2020 at 2:04pm

Fake news CBS got caught in a huge lie AGAIN!

CBS News used a photo from a Latinos for Trump in event in Phoenix and tagged it as Biden’s Latino event in Florida.

Emblazoned on CBS’s chyron: “Biden pitches crucial Latino voters during Florida campaign stop” — with a photo from Trump’s Phoenix rally.

A Latina in the photo was literally wearing a hat that said “I Love Trump.”

Biden’s Latino event in Kissimmee, Florida yesterday was a total disaster.

Biden was nearly 2 hours late to the event.

This is the scene from Biden’s Latino event yesterday:

CBS News had to use a photo from a Trump rally because virtually NO ONE was at Joe Biden’s Latino event!

More

https://www.thegatewaypundit.com/2020/09/fake-news-cbs-caught-using-photo-latinos-trump-event-phoenix-tagged-bidens-florida-event/

Some wealthy Americans are already prepping their finances for a Joe Biden presidency — here’s how

Published: Sept. 16, 2020 at 6:07 p.m. ET

San Francisco accountant Scott Hoppe had a client who was planning to stretch the sale of founder shares in a tech-sector company over a three-year period.

Instead, the client compressed the installment sale into a one-shot transaction this month.

What accelerated the deal?

The 2020 presidential race. “Assuming all else was equal, that was the driver of the choice,” said Hoppe, principal of the accounting firm Why Blu.

Right now, Hoppe’s client, worth between $10 million and $20 million, will be taxed on capital gains at a rate of 23.8%.

If Democratic candidate Joe Biden beats President Donald Trump — and Democrats retain the House of Representatives and flip the Senate — that client could have potentially been staring at a 39.6% tax rate in two out of the installment sale’s three years.

The compressed transaction, then, could have saved the client approximately $320,000 in taxes on the $6 million sale. “The seller, for sure, was motivated, and the buyer had the wherewithal” to pay the full price upfront, said Hoppe.

Biden’s tax plan would put the marginal rate for top earners back at the Obama-era 39.6% rate, up from the current 37% rate. That 39.6% rate would apply to the capital gains of people who earn more than $1 million. It’s one aspect of a tax proposal where the top 1% of earners would pay for almost 80% of an increase in taxes, according to a budget model from the University of Pennsylvania’s Wharton School of Business.

Election Day is eight weeks away, and the mass of expected mail-in ballots could prolong the wait for a final result, with many states not beginning to count absentee votes till the polls close. Though polling averages in swing states currently give Biden an edge over President Donald Trump, and he’s held a steady lead in national polls for most of the year, polls indicated right up till Election Day in November 2016 that Hillary Clinton would best Trump.

Either way, though, many of America’s affluent households, and the experts who advise them, aren’t waiting.

Hoppe finishes every client conversation with a discussion about what a Biden administration could mean for portfolios vs. a second Trump term. One Illinois financial-planning firm has carried out approximately 50 Roth IRA conversions this year with an eye on the election.

More

https://www.marketwatch.com/story/some-wealthy-americans-are-prepping-their-finances-for-a-possible-joe-biden-presidency-this-is-all-going-up-and-you-may-never-see-it-as-good-as-it-is-now-2020-09-16

“I sometimes get the impression that many U.S. media outlets work according to a principle which was common in the Soviet Union. Back then, people used to joke that the newspaper Pravda [Truth] had no truth in it, and the Izvestia [News] paper has no news in it. I get the impression that many U.S. media operate in the same way.”

Russian Foreign Minister Lavrov. May 2017.

Covid-19 Corner                       

This section will continue until it becomes unneeded.

Global Cases Top 30 Million; India Tally Surges: Virus Update

September 17, 2020, 10:46 PM GMT+1 Updated on September 18, 2020, 5:39 AM GMT+1

Global Covid-19 infections exceeded 30 million as the number of cases continued to climb, according to data from Johns Hopkins University. The U.S., India and Brazil remain the countries with the highest number of cases, while a World Health Organization official called fresh outbreaks in Europe a “wake-up call” for the continent.

Democratic nominee Joe Biden blasted President Donald Trump’s response to the virus as “almost criminal.” In New York City, in-person school classes were delayed for the second time, while Goldman Sachs Group Inc. sent traders home after at least one employee at its downtown office tested positive for Covid-19.

Moderna, as well as Pfizer and its partner BioNTech SE, released their plans for analyzing vaccine-trial data amid concerns that the race for a safe and effective product is being politicized.

Key Developments:

• Global Tracker: Cases pass 30 million; deaths approach 945,000
• Tracking the spread of the coronavirus outbreak in the U.S.
• Trump’s vaccine ambitions contradict his own health experts
• Londoners slowly return to work after schools reopened
• China to make decision on WHO vaccine program snubbed by Trump

More

https://www.bloomberg.com/news/articles/2020-09-17/u-s-cases-rise-at-steady-pace-texas-eases-curbs-virus-update?srnd=coronavirus

India's coronavirus cases rise to 5.2 mln, with 96,424 new infections

September 18, 20205:31 AM

MUMBAI (Reuters) - India recorded 96,424 new coronavirus infections in the last 24 hours, taking its tally to 5.2 million, data from the federal health ministry showed on Friday.

India has been posting the highest single-day caseload in the world since early August, and seems on course to cross the United States as the country with the most number of cases.

Deaths in India have been relatively low, and it has a fatality rate of 1.62%.

On Friday, the health ministry said 1,174 people died of COVID-19 in the last 24 hours, taking total mortalities from the disease to 84,372.

https://uk.reuters.com/article/uk-health-coronavirus-india-cases/indias-coronavirus-cases-rise-to-5-2-million-with-96424-new-infections-idUKKBN2690IQ?il=0

Germany's confirmed coronavirus cases rise by 1,916 to 267,773: RKI

September 18, 20204:16 AM  By Reuters Staff

BERLIN (Reuters) - The number of confirmed coronavirus cases in Germany increased by 1,916 to 267,773, data from the Robert Koch Institute (RKI) for infectious diseases showed on Friday.

The reported death toll rose by seven to 9,378, the tally showed.

https://uk.reuters.com/article/uk-health-coronavirus-germany-cases/germanys-confirmed-coronavirus-cases-rise-by-1916-to-267773-rki-idUKKBN2690DQ?il=0

Unknown Covid-19 cases return, contacts quarantined

2020-09-17 HKT 18:53

For the first time in three days, Hong Kong has reported local coronavirus cases with an unknown source of infection.

These accounted for half of the six local cases announced by health authorities on Thursday.

One of the patients is a 52-year-old woman who lives in Mong Kok and works at a dim sum restaurant at Chong Hing Square in the same area.

Dr Chuang Shuk-kwan from the Centre for Health Protection (CHP) said 17 other staff members at the restaurant will be quarantined as a precaution.

“She was working during the infectious period and also she had breakfast and lunch at the workplace… where the colleagues may interact with each other,” Chuang said.

Another patient, a 57-year-old Yau Tong woman, is an office worker at an NGO in Kwun Tong. Five of her colleagues were being tested for Covid-19.

The third case that could not be traced involved a 24-year-old unemployed man in Tin Shui Wai.

The CHP resumed its daily press conference on Thursday after deciding not to brief the media in the past two days in the absence of cases that could not be traced.

Chuang insisted not briefing the media did not mean the threat posed by Covid-19 to the community was easing, and that people need to remain vigilant.

Three other local infections were traced to previous cases.

There were also three imported cases on Thursday, with the patients coming to the city from the UK and Iran.

Meanwhile, with the Covid situation stabilising in Hong Kong, the Hospital Authority said it will suspend the operation of the community treatment facility at AsiaWorld-Expo.

Almost 700 people had been treated at the 500-bed facility since it opened on August 1.

Still, undersecretary for food and health Chui Tak-yi said the government will continue to expand treatment facilities as it prepares for the worst-case scenario.

More

https://news.rthk.hk/rthk/en/component/k2/1550199-20200917.htm

WHO says more than 170 countries have joined COVAX vaccine facility

September 17, 202012:35 PM

SINGAPORE (Reuters) - More than 170 countries have joined the World Health Organisation’s COVAX facility to boost development of vaccines to combat the COVID-19 pandemic, the body’s director general.

“More than 170 countries have joined the COVAX facility, gaining guaranteed access to the world’s largest portfolio of vaccine candidates,” Tedros Adhanom Ghebreyesus said in pre-recorded comments in a webinar ahead of Friday’s deadline to join the facility.

https://uk.reuters.com/article/uk-health-coronavirus-who-singapore/who-says-more-than-170-countries-have-joined-covax-vaccine-facility-idUKKBN2681RT?il=0

Next, some vaccine links kindly sent along from a LIR reader in Canada. The links come from a most informative update from Stanford Hospital in California.

World Health Organization - Landscape of COVID-19 candidate vaccines. https://www.who.int/publications/m/item/draft-landscape-of-covid-19-candidate-vaccines

 

NY Times Coronavirus Vaccine Tracker. https://www.nytimes.com/interactive/2020/science/coronavirus-vaccine-tracker.html

Stanford Website. https://racetoacure.stanford.edu/clinical-trials/132

Regulatory Focus COVID-19 vaccine tracker. https://www.raps.org/news-and-articles/news-articles/2020/3/covid-19-vaccine-tracker

Some useful Covid links.

Johns Hopkins Coronavirus resource centre

https://coronavirus.jhu.edu/map.html

Rt Covid-19

https://rt.live/

Covid19info.live

https://wuflu.live/

 

Technology Update.

With events happening fast in the development of solar power and graphene, I’ve added this section. Updates as they get reported. Is converting sunlight to usable cheap AC or DC energy mankind’s future from the 21^st century onwards.

Single photons from a silicon chip

Novel source for quantum light particles

Date: September 15, 2020

Source: Helmholtz-Zentrum Dresden-Rossendorf

Summary: Quantum technology holds great promise: Quantum computers are expected to revolutionize database searches, AI systems, and computational simulations. Today already, quantum cryptography can guarantee secure data transfer, albeit with limitations. The greatest possible compatibility with current silicon-based electronics will be a key advantage. And that is precisely where physicists have made progress: The team has designed a silicon-based light source to generate single photons that propagate well in glass fibers.

Quantum technology holds great promise: Just a few years from now, quantum computers are expected to revolutionize database searches, AI systems, and computational simulations. Today already, quantum cryptography can guarantee absolutely secure data transfer, albeit with limitations. The greatest possible compatibility with our current silicon-based electronics will be a key advantage. And that is precisely where physicists from the Helmholtz-Zentrum Dresden-Rossendorf (HZDR) and TU Dresden have made remarkable progress: The team has designed a silicon-based light source to generate single photons that propagate well in glass fibers.

Quantum technology relies on the ability to control the behavior of quantum particles as precisely as possible, for example by locking individual atoms in magnetic traps or by sending individual light particles -- called photons -- through glass fibers. The latter is the basis of quantum cryptography, a communication method that is, in principle, tap-proof: Any would-be data thief intercepting the photons unavoidably destroys their quantum properties. The senders and receivers of the message will notice that and can stop the compromised transmission in time.

This requires light sources that deliver single photons. Such systems already exist, especially based on diamonds, but they have one flaw: "These diamond sources can only generate photons at frequencies that are not suitable for fiber optic transmission," explains HZDR physicist Dr. Georgy Astakhov. "Which is a significant limitation for practical use." So Astakhov and his team decided to use a different material -- the tried and tested electronic base material silicon.

100,000 single photons per second

To make the material generate the infrared photons required for fiber optic communication, the experts subjected it to a special treatment, selectively shooting carbon into the silicon with an accelerator at the HZDR Ion Beam Center. This created what is called G-centers in the material -- two adjacent carbon atoms coupled to a silicon atom forming a sort of artificial atom.

When radiated with red laser light, this artificial atom emits the desired infrared photons at a wavelength of 1.3 micrometers, a frequency excellently suited for fiber optic transmission. "Our prototype can produce 100,000 single photons per second," Astakhov reports. "And it is stable. Even after several days of continuous operation, we haven't observed any deterioration." However, the system only works in extremely cold conditions -- the physicists use liquid helium to cool it down to a temperature of minus 268 degrees Celsius.

"We were able to show for the first time that a silicon-based single-photon source is possible," Astakhov's colleague Dr. Yonder Berencén is happy to report. "This basically makes it possible to integrate such sources with other optical components on a chip." Among other things, it would be of interest to couple the new light source with a resonator to solve the problem that infrared photons largely emerge from the source randomly. For use in quantum communication, however, it would be necessary to generate photons on demand.

More

https://www.sciencedaily.com/releases/2020/09/200915105953.htm?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+sciencedaily%2Fmatter_energy%2Fgraphene+%28Graphene+News+--+ScienceDaily%29

Another weekend, and am I better off now than I was a week ago, to misquote candidate Ronald Reagan. Well yes and no. My health is about the same or a little better thanks to an optimum vitamin D level due to our September Indian summer. As always, being Scots, I managed to save a little from my pension. And I learnt a lot more during the week also.

But all of that came by getting a week older and nearer to meeting my maker. I better start thinking up excuses. My “who knew?” Is likely to be met with “well you did!”  Have a great weekend everyone.

US Politics Betting Odds

https://www.oddschecker.com/politics/us-politics

Politics are not a science based on logic; they are the capacity of always choosing at each instant, in constantly changing situations, the least harmful, the most useful.

Count Otto von Bismarck.

The Monthly Coppock Indicators finished August

DJIA: 28,430 Up. NASDAQ: 11,775 Up. SP500: 3,500 Up.

The NASDAQ remained up. The DJIA and SP500 turned up in July. With stock mania running fueled by trillions of central bankster new fiat money programs, especially tech stock mania in the NASDAQ, the indicators are essentially worthless after all these years. I will discontinue this section at the end of the month.