THE ONE CHART TO PAY ATTENTION TO The only major central bank not reducing its rate of “Easy Money” was Japan. Even that appears to be altering: Bank Of Japan Leaves Policy Unchanged, Downgrades Inflation, Continues ‘Stealth’ Taper
TRIGGER$ June 2018
THE MARKET FIRMLY BELIEVES THE FED “HAS THEIR BACK” LONGER TERM
THE MARKET FIRMLY BELIEVES THE FED “HAS THEIR BACK” LONGER TERM Every time the market crashed, central banks have stepped in as the Bank of America recently illustrated: Deutsche Bank believes that point (the Fed “PUT”) is between 2300 & 2400 on the S&P 500
JUNE 2018 S&P 500 TARGETS
JUNE 2018 S&P 500 TARGETS TARGETS S&P500 THERE IS A POTENTIAL FINAL UPSIDE HIGH OF ~3052-3200 BY YEAR END 2019 IN THE SHORTER TERM A SUPPORT TEST OF ~2500 (400 DMA) IS POSSIBLE BUT UNLIKELY The Elliott Wave Count suggests that a final wave in second half 2018 could take the S&P 500 above 3000 […]
JUNE ELLIOTT WAVE: S&P 500 HAS BROKEN “CONTINUATION TRIANGLE” TO THE UPSIDE
JUNE ELLIOTT WAVE: S&P 500 HAS BROKEN “CONTINUATION TRIANGLE” TO THE UPSIDE
JUNE 2018 PRIMARY TREND UPDATE: TREND IS STILL UPWARD
JUNE 2018 PRIMARY TREND UPDATE: TREND IS STILL UPWARD
S&P 500: JUNE 2018 UPDATE: CHANNELS – SUPPORT & RESISTANCE
S&P 500: JUNE 2018 UPDATE: CHANNELS – SUPPORT & RESISTANCE
JUNE 2018 UPDATE: POST 2008 BOUNDARY CONDITIONS
JUNE 2018 UPDATE: POST 2008 BOUNDARY CONDITIONS
CREDIT CYCLE WARNING: EMERGING MARKET SOVEREIGN BONDS CHEAPER THAN US HIGH YIELD!
CREDIT CYCLE WARNING: EMERGING MARKET SOVEREIGN BONDS CHEAPER THAN US HIGH YIELD! — SOURCE: 06-14-18 Forbes – “When Will The High-Yield Credit Bubble Burst?” — U.S. Federal Reserve Chairman Jerome Powell speaks during a news conference June 13, 2018 in Washington, DC. After a two-day meeting the Chairman Powell announced that the Fed will increase […]
FUND MANAGER ALLOCATIONS TO COMMODITIES HITS 8 YEAR HIGH – NET 7% OVERWEIGHT
FUND MANAGER ALLOCATIONS TO COMMODITIES HITS 8 YEAR HIGH – NET 7% OVERWEIGHT According to the June Bank of America Fund Manager Survey and we would expect, since it is very late in the business cycle allocation to commodities has hit a new 8-year high, rising 1ppt to net 7% overweight, the highest since April 2012 when […]
HIGH YIELD SPREAD EXPECTATIONS HEADING INTO A RECESSION
HIGH YIELD SPREAD EXPECTATIONS HEADING INTO A RECESSION “HY spreads do not have a recessionary look at all” … but let’s see what happens when the QE stops buying corporate bonds. “The energy sector suggest there is some chance of a recession in 12 months, but not sooner.”