A look at the weekly charts as we head into a short, four-day week.
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Weekend Wrap UP
May 28th, 2012 at 6:21pm · No Comments
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The Inflatables
May 26th, 2012 at 4:44pm · No Comments
I liken the debt bubble to an inflatable. Since the financial crisis of 2008 blew a hole in the inflatable economy, a central bank pump of fresh credit is required to keep the inflatable from collapsing under the weight of debt deleveraging. If you turn off the pump, the inflatable slowly leaks air and collapses. We can see that process beginning to unfold now.
The charts below show my ‘Money-Printing Pump’ calculated from the balance sheets of the FED and the ECB. Now the politicians are reaping the benefit of the pump being off in falling gasoline prices. But at some point, the falling 401k balances of the middle class will need to be revived and I expect the pump to be turned on once again. That will likely occur well before the election.
The correlation between the S&P 500 and the Money Printing Pump since October 1 is .94. Since Jan 1, 2009 the correlation is .80.
click chart to enlarge
click chart to enlarge
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Solunar Doings
May 26th, 2012 at 4:34pm · No Comments
The Solunar Models for the Dow and Crude Oil offer timing suggestions for coming weeks.
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Bottom Fishing
May 24th, 2012 at 7:54pm · No Comments
The various attempts at ‘bottoms’ in risk assets remain unconvincing.
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Feeble Bounce
May 22nd, 2012 at 6:59pm · No Comments
As bounces go, this one is pretty pathetic.
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Where Are the Big Bars?
May 20th, 2012 at 6:31pm · No Comments
Moves like the current one end with large daily-range bars. We haven’t seen them yet.
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Leaking Air
May 16th, 2012 at 7:05pm · 1 Comment
With the money-printing pump now turned off, all markets are leaking air.
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Potential
May 15th, 2012 at 5:18pm · No Comments
The ingredients for an S&P low are present.
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→ No CommentsTags: General Market Commentary · Market Internals · S&P 500 · The Spiral Calendar