SPY – Medium-Term Risks Building, But Can Rally Near Term

posted in: Credit, Economy, Equities, Technicals | 0

On the weekly chart, SPY remains grossly overbought, but near term there is room to rally – duration and magnitude notwithstanding.  Options can help. US core PCE (personal consumption expenditures) increased 1.96 percent year-over-year in May – essentially two percent.  … Continued

Fed Up — Doing Same Thing Over And Over, But Expecting Different Results!

Three months.  That is all it took for the Fed to do a 360. In the middle of last December, the fed funds rate was raised for the first time in nine years – to still-zero-bound 37 basis points.  The … Continued

Central Banks Trying To Put Mr. Market On Notice?

posted in: Credit, Currency, Economy | 0

In the past couple of weeks, there have been three important developments on the central-banking front, including the first hike by the Fed in nine years (Chart 1). It is too soon to say with conviction, but are major central … Continued