Make no mistake about it...this rally is being driven by liquidity, not improving fundamentals.
Table of Contents:
1) The S&P 500 and NDX 100 have broken above KEY resistance levels…which is very bullish
2) Liquidity induced rallies that are not fundamentally based, so they always end in tears.
3&4) The regional banking crisis has created a very difficult predicament for the Fed.
5) Some healthcare stocks (like BMY & AMGN) could see some nice runs this summer.
6) After building a strong “base,” natural gas is showing signs of life.
7) Bright future for Japan, but the Nikkei is getting very overbought near-term.
8) A change in trend for the dollar is looking more and more likely.
9) Ignoring the yield on the 2-year note usually doesn’t work well over time.
10) Summary of our current stance.