The 13 week cycle turned up last week. That at least kept the 6 month cycle in a flat down phase. Cycle screening data was much stronger on the week. That resulted in a breakout in the aggregate measure. Market Indicators Update
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Virtually nothing has changed since the last update, other than an uptick in current US GDP for the second quarter. When economic data releases begin to reflect this next month, the market reaction should be negative as traders conclude, correctly, that the Fed will tighten. Markets top out when the news is good, because that is, in fact, when the Fed turns the screws.
There has never been a more destructive central banking policy than the Fed’s current maniacal quest to stimulate more inflation and more debt. That’s what is killing real wages and economic vitality in flyover America—-even as it showers prodigious windfalls of unearned wealth on Wall Street and the bicoastal elites who draft on the nation’s vastly inflated…
In fact, the earnings release is largely useless.
Goldman is a stain on the fabric of American capitalism.
Mind the Gap Since October 1, 2011, the S&P 500 has risen 82% on the heels of strong earnings growth. Let’s start over. Since October 1, 2011, the S&P 500 has risen 82% on the heels of a 0.75% … Continue reading →
The U.S. energy sector, already under pressure, is about to feel a whole lot more of it – no matter when the Fed raises rates, or how many times it raises them in 2016.
This is part of a series of free Wall Street Examiner Pro Trader reports that I have been posting as I recover from my emergency open heart surgery on May 3. This report covers Macro Liquidity indicator trends and what they tell us about the outlook for the US stock and bond markets. If you…