Once the Dust Settles, People Will Focus on the Upcoming Credit Crunch
I will be traveling next weekend, so there will be no "Weekend Insights" piece next week…..Thank you.
Table of Contents:
1) The resolution of the debt ceiling debate is actually not a reason to be bullish for very long.
2) The upcoming contraction in credit is (by far) the most important issue facing the markets right now.
3) Liquidity and “positive gamma” has played a large role in the recent advance. Will that continue?
4) Many of the big-cap tech stocks have become EXTREMELY overbought.
5) How bizarre, how bizarre.
6) The stock outside the big-cap tech arena have been doing the exact opposite of playing “catch-up” recently!
7) Updated charts on the S&P 500 and the NDX 100. (If the SPX can break 4,200, it will be very positive.)
8) China stock indices…breaking key support levels. Any further decline will not be good.
9) Housing stocks: The news is better, but the charts are showing a few cracks.
10) Summary of our current stance.