Weekend July 24, 2016
Excessive SPY Shares Suggests Two Much Bullish Sentiment
I just lost all I had written rather than e do all this
The Bottom Line
Stocks rallied into an expected high this past week. The Transports refuse to confirm with a new high, watch the transports.
Bond prices are falling, and we noted the one and five year yields are rising. We suspect the high in bond prices has been seen with negative yields in Europe.
The US Dollar rallies taking gold, silver, CRB and potentially oil lower.
Energy may have support in the low 40s but is still falling.
Natural gas is falling as well.
Shanghai has only weakly rallied from its 50% collapse in the last year, not good.
Social Mood
I was in a location to watch Bill Mahr's highly slanted to the left show on HBO this past weekend. The gulf between the two parties will not be eliminated. The Democrats literally think the Republicans are nuts. The Republicans think the same. We can only guess if there is enough negative sentiment against the direction of the country to help Trump. Trump like any non-politician lacks even a smidge of political instinct, hence he fights back at Cruz how after all lost the race, why bother? At any rate, on Mahr's show the lefties clearly do not think society at large is in danger. Clearly the Republicans do. The wrong Trump is running. If Trump Sr had the political instincts of say Joe Kennedy Sr, he would have been lining up Donald Jr (what a terrible name for a politician) to run. Donald Jr is half Hillary's age and would have millenial appeal. And would nto be likely to say any random silly thing that popped into his head. But Donald Sr like all rich arrogant individuals I have dealt with does not think that way.
It will take an army of voters to beat the Clinton machine backed by the media.
The Market Perspective bases its information on techniques and sources that have been found to be reliable in the past, and The Market Perspective tries to base opinions on sound judgment and research, however, we do not guarantee that future results will match past performance and no guarantee can be made that advice will be profitable. The Market Perspective accepts no money for stock recommendations and is purely motivated by its own research in recommending any stocks. Put another way, the responsibility for decisions made from information contained in this letter lies solely with the individuals making those decisions. The editor and persons affiliated with The Market Perspective may at times have positions in securities mentioned. Nothing contained herein represents an offer to buy or sell securities. The Market Perspective encourages investors to be diversified, and to maintain sell stops and risk control over their valuable investment capital. No guarantee can be made to the accuracy of text or charts.
Comments