[newsletterchapter2 title=”GENERAL MARKET COMMENTS”] Global Equity Markets continue to exhibit generic
strength on the persistent dominance of the Liquidity Gestalt. This is amazing in the face of any all the activities in every sort air space. To repeat: The overall preferred pattern was, “Rolling, diverging strength could continue for more of the Summer.” Summer is passing but is not over.
We allowed that Corrective episodes, like the last week or two, could be followed by some upside into Mid-Late August. If an overt and “Phat” High occurs, a potentially dramatic decline may manifest. Repeat: “This is still a Manipulated Market. Don’t Believe in any of it.” The 7/3, DOW 17K, CupCake Crumble, Extreme was “only another diverging momentum High.”
As noted: “There may be a sweeter Sell spot yet to come.” It does and has all argued for Perseverance and Patience over the next few weeks.