The Small Cracks in the Wall of the Stock Market are Starting to Get Bigger
Table of Contents:
1) Merely avoiding the worst case scenarios is not enough to push expensive markets higher.
2) The Moody’s downgrade of several banks will help people refocus on the (real) issues they’re facing today.
3) No bazooka for China’s economy. That’s going to create further headwinds around the globe.
4) The cracks in the tech rally we highlighted last weekend have grown considerably in the last week.
5) The most important leadership group in the market (the semis) is seeing some considerable cracks as well.
6) Updating the charts on the S&P 500, the NDX Nasdaq 100 and the Russell 2000.
7) Next week is going to tell us a lot about the state of the U.S. consumer.
8) The rally in the U.S. stock market is stalling…which has happened around the globe all year.
9) Gold is close to a very important support level. Will that provide a good buying opportunity?
10) Summary of our current stance…..The era of “free money” is behind us.