This VERY "Narrow" Rally Is Becoming Vulnerable Near-Term
I will be out the second half of next week for my father’s memorial service in Florida. So, there will be no weekend piece next weekend…..Also, don’t forget that the markets are closed on Wednesday for Juneteenth Day……Thank you.
Table of Contents:
1) Bubbles don’t have to reach 1999/2000 levels to become very dangerous.
2) The S&P 500 and NDX 100 have broken out again nicely, but they’re getting overbought near-term.
3) The same is true for some key tech stocks.
4) The recent (meaningful) weakness in the industrial stocks is a warning sign for growth.
5) The Russell 2000 index and the S&P 500 Equal Weight index have been FALLING for WEEKS.
6) Investors are much too complacent about what is going on in the European credit markets.
7) The Treasury market is confirming a change in trend, but is it really bullish for stocks?
8) The KRE regional bank ETF is at risk of breaking below a VERY important support level.
9) Potpourri……This year’s Wimbledon could be historic…but not for a good reason.
10) Summary of our current stance.