I have downgraded the market further today with the rating that Bears have the advantage over Bulls going into Wednesday. Here is my objective reasoning for downgrading the market further after today’s trading.
The NYSE percent of stocks above the 50 day moving average is plunging as traders have been rushing for the exit across (Read More….)
The rally in stocks from short covering is coming to an end as evidenced by the falling Twiggs Money Flow on all the major indices. I wrote about the Trump short covering rally here. I said a week ago that when we see a negative divergence between the Twiggs Money Flow and the major indices, (Read More….)
We have enough data to say that inflation is finally trending higher.
In case you are wondering why inflation moving higher is important, please review this.
The less volatile sticky CPI confirms the uptrend.
ObamaCare has exploded the cost of medical care higher.
Medical care commodities, which are prescription and (Read More….)
The mainstream media and Donald Trump have been at odds for a long time. That’s not news. Every publication from the WSJ, Reuters, and Bloomberg show constant biases in the articles they publish.
As a result, a lot of traders, simply mimicked what they read in the mainstream financial media as if was a fact. (Read More….)
The VIX is at the all-important 13 level. A break below 12.75 would be bearish for the VIX or bullish for the S&P 500. A break above the 14 level would be bullish for the VIX or bearish for the S&P 500.
Keep your eyes on the VIX tomorrow for an early read on (Read More….)
US stock indices ripped higher at the market open but then spent the rest of the day slowing moving lower. The latest polls ahead of Thursday’s UK referendum suggested the ‘stay’ vote may have found some support over the weekend which led to a global rally in risk assets.
The British Pound exploded higher (Read More….)
The FOMC began day one of its June meeting today, although most traders expect that the Fed will not hike rates tomorrow. The benchmark German bund yield went negative today for the first time ever, marking another stage of the risk pullback over the last several sessions ahead of the UK referendum on (Read More….)