[newsletterchapter2 title=”GENERAL MARKET COMMENTS”] Global Equity Markets have continued to exhibit generic strength as we allowed. This behavior was not unexpected. Again, “rolling, diverging strength could continue for more of the Summer.”
But, Summer is passing before our eyes and if there is a Down sequences here for 1-2 weeks, it only allows a few weeks of potential upside which is due to be followed by, Fall. If this Liquidity Complacency Gestalt can persist into August, an important, perhaps dramatic Vulnerability profile may manifest.
Repeat: “This is a tricky market. It is a Manipulated Market. Don’t Believe in any of it.” It has been good to wait and see the upside from the sidelines. We are now in a Correction but it may end up being penultimate to an even sweeter Sell spot. [Read more…]