The stock market broke, but initial claims are still at record levels. This is how it has historically works as bubbles start to deflate. Employers are the last to get the news. But the very fact of their record long term ebullience was warning enough, as I have repeatedly chronicled here over the past year. For now, though they still…
More Great Reads
Gold continues to threaten to threaten a break of minor support that would send it plunging toward the lows, while holding would be bullish.
Conventional wisdom at the moment says that China’s coming unglued and that the country’s stock markets pose a grave danger to global investors. It’s communist, it’s a Ponzi scheme, it’s ruled by insiders, it’s leveraged up to its eyeballs, ghost cities… all the usual tired old arguments are being rolled out as if they’re somehow new again.
What China will be left with a poisoned land stripped of talent and capital.Corruption isn’t just bribes and influence-peddling: it’s protecting the privileges of the few at the expense of the many. Rampant pollution is corruption writ large:…
Cycle screening measures were stronger today. The aggregate measure and 7 of the 9 components strengthened. The aggregate measure remains in negative territory. It would…
On any rally, regardless of where it starts, I will be looking for low risk short sale entries for the next big down leg.
Major employer announced job cuts in August were a notable improvement from July. However, the 2015 year-to-date total is up 31% from the same period a year ago.
America’s trade deficits in manufacturing and with the European Union both set their second straight monthly records.
In its monthly report released on Monday, OPEC indicated it is now willing to discuss production levels with other non-OPEC countries.
More and more of (what’s left of) the nation’s economic vigor has been concentrated in fewer and fewer states during this period.
They need to start perking up as they test minor support levels.
According to the talking heads Tuesday was just a bull market “retest” of last week’s lows, which posted at 1867 on the S&P 500. As is evident below, the test was passed with 80 points to spare at today’s close. So according to the bull heads—–CNBC had three of them on the screen at once about 2pm—–its time to start nibbling…
The risk-off tide is rising, and sand castles of QE will only hold the tide back for a brief period of apparent calm.A funny thing happened on the way to permanently expanding global markets: unintended consequences. Borrowing cheap, abundant U.S….