Are We Waiting on “Red?”
Wednesday will be critical as consumer cyclical stocks (especially housing) are under pressure across the markets.
Dear Fellow Expat:
An early signal would be three days of negative movement on the S&P 500 and rising selling patterns.
We’re seeing outflows increase as the Daily MACD is turning negative now. We’re still about 1% above the 20-day moving average, but something is brewing here - and people are starting to wake up to the debt problem (we had this same problem LAST October).
Stocks have threatened their first three-day slide since September as traders have seemingly revolted against Washington's $500 billion borrowing spree over the last three weeks.
The bond market's message is crystal clear: It is pushing yields toward 4.23% and demanding ever-higher premiums to fund America's debt addiction.
Gold's defiant surge to $2,763 despite dollar strength tells the tale. With rate cut hopes slashed in half from just a month ago, the market's bull run is slamming into a wall of fiscal reality.
Insider Buying:
Insider Buy/Sell ratio for October is 0.24 (YTD avg 0.28) - that’s bearish.
Top Purchase…
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