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The world economy is weakening: the US payroll tax increase and “sequestration” are pressuring the US economy; China is being pressured by Japan, and has “dampened” their housing market. the Eurozone remains mired in “inaction.” For now, although we feel that risk is being mispriced at current levels given recent pressure upon world economic figures and the developing pressure upon corporate margins/ earnings — the consensus is that the world’s central banks will save the day.
STRATEGY: The S&P 500 remains above the 160-wma long-term support level at 1341; and the standard 200-dma support level at 1521. But perhaps more importantly, the distance above the 160-wma has has now faltered below the +23% “bubble-like rally” threshold. This is a warning sign to be sure; especially given 1600 was violated to the downside.
I start by talking about “one of the biggest contributing factors keeping this whole economy afloat” – the debt cycle. The government is racking up $1 TRILLION in new debt...
US CPI data and Fed to determine the dollar’s fate Will the BoJ signal that another rate hike is looming? Pound traders await UK employment and GDP numbers RBA hike bets shrink...
CPI data for May will be released on 12 June 2024. US consumer inflation is cooling down slightly, but policymakers will need to see several more months of disinflation before...
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