By James Picerno
Interesting insight by an author, James Picerno.
The US dollar has had a rough ride so far in 2017. The Federal Reserve’s Trade Weighted that tracks the major currencies has tumbled roughly 8% year to date through last week’s close. The greenback’s slide, however, has delivered a substantial return premium for US investors who own foreign assets in funds sans currency hedging.
Guess which two markets I am watching right now?
Full credit to: Charles Hugh Smith
The one thing we can know with certainty is it won’t be easy to profit from the crash.
After 8+ years of phenomenal gains, it’s pretty obvious the global stock market rally is overdue for a credit-cycle downturn, and many research services of Wall Street heavyweights are sounding the alarm about the auto industry’s slump, the slowing of new credit and other fundamental indicators that a recession is becoming more likely.
Few have taken the risk of projecting a date for the crash, this gent being a gutsy outlier: Hedge Fund CIO Sets The Day When The Next Crash Begins.
Next February is a good guess, as recessions and market downturns tend to lag the credit market by about 9 months.
Since yesterday French first round election result news released, equities market has been respond with a gap up and follow by a follow through.
The question now lies…can this rally sustain?
During end of March i share about S&P 500 chart and predict a consolidation and the market went off as what i predicted….undergo consolidation but in a rough movement.
Instead of ranging at area of 2335 to 2355…it actually make a fake breakout to higher end 2380 before back to ranging area again.
This might be one of the best article I have read today.
I have been waiting for past 2 months to see some setup like this and finally it happen.