Credit Contractions Are Not Good For Risk Assets...Period.
Table of Contents:
1) Is the consumer still strong? Ask Inspector Clouseau would say, “Not anymore.”
2) We’re staring at a significant credit contraction. Why are so many people ignoring this fact?
3) That said, the transports & industrials are signaling some better growth ahead.
4) The homebuilders are signaling the same, but not to the degree some people might think.
5) The recent action in the bank stocks is an ominous development.
6) There has been A LOT of insider selling in the tech sector recently. Caveat emptor.
7) Updated charts on the S&P 500, the NDX 100 and the Russell 2000.
8) Can last week’s news help bitcoin (& other cryptos) breakout?
9) Russia tumult: Will it help natural gas breakout?
10) Summary of our current stance.