The 10-day moving average of NYSE new highs is entering extreme territory. … [Read more...]
S&P Hits New Record High
The S&P 500 is hitting new record setting highs today. … [Read more...]
Yellen has Egg on Her Face
The increase in June non-farm payroll employment came in at a blow out 287,000 following May's big miss. The data dependent Fed predictably panicked after last month's report (see chart for summary of their views). The folly of a data dependent approach should now be crystal clear. … [Read more...]
The Pound Loses 31 Years of Value
Brexit fears have driven the pound-dollar exchange rate back to levels not seen since 1985. … [Read more...]
New Record Low Yield for 30-Year Treasury
Thirty year Treasury rates are the lowest they've ever been at 2.25%. … [Read more...]
Transport Getting Crushed
The Dow Transports are getting crushed relative to the Industrials. This is typically not a good sign for the future of the economy. … [Read more...]
Gold Surges on Brexit Vote
News of the Leave Campaign's success in the Brexit referendum has sent gold surging in today's trading, reaching as high as $1359/ounce. … [Read more...]
New Home Sales hit Nine Year High
Existing home sales have risen to the highest in nine years, reaching 5.53 million homes sold in May. … [Read more...]
No Way Stocks Are Cheap
This chart is from John Hussman's latest comment. It shows the price-to-sales ratio of the typical S&P 500 stock. The typical stock is now trading near a historic peak in relation to sales. With valuations so high, if you are still counting on double-digit returns to fund your retirement, this chart should give you pause. … [Read more...]
Retails Sales Still Climbing, But Slower
Retail sales have been growing since November 2009, but peaked in April 2010. The growth trend has been one of deceleration ever since. … [Read more...]
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