The market met the best hopes of bulls and worst expectation of bears last week as it broke out above 2673 and hit my potential target of 2725. It’s in a meltup channel but faces multiple resistance lines. Here’s where they are and what to look for.
The macro liquidity picture shows you why this rally should be sold.
Key cycles have entered down phases. Here’s where they’re headed.
The market is again at a crossroads. A strong start to this week could trigger buy signals on the 10-12 month cycle. But bears could stay in control if certain things happen. This report covers the triggers for both scenarios.
Withholding tax collections continued their decline in the month ended April 30, reflecting the impact of the new tax law. As a result, we should continue to expect increases in Treasury supply to pound the market every month. Here’s how this works and what it means for the market.
But it hasn’t done much. Things are about to get worse–a lot worse.
Gold looks set for an extended consolidation. Here’s what to look for to signal the next big move.
The SPX has reached a moment of truth. It is trading just below the confluence of several short term and intermediate trendlines. Here’s where the signs point.
Gold’s position on the long term view has turned precarious. Here’s what needs to happen to keep that warning from coming to fruition.
The US Treasury’s tax windfall has come and gone. The Treasury is resuming net borrowing early than usual this year, in April instead of mid May as usual. That’s problematic in view of the weak cyclicality. As I wrote last week, “The usual April-May seasonal pop should fizzle early.” Here’s what to look for.