Republic Risk: Look Out Below

As I noted, the CPI reading wasn't shocking. Utilities are tanking right now, which has preceded every major selloff.

Dear Fellow Expat:

And there it is. All four indicators are negative on the S&P 500 ETF (SPY) - MACD, RSI, MFI, and ADX for the S&P 500.

Selling pressure has exploded.

Alligators Can’t Spell

The Utilities sector ETF (which doesn’t do well if interest rates are to stay elevated) is down 2.6% today. You can see in the chart below how Utilities do when there’s a larger selloff (see October).