While the trend has been largely sideways for several months, the underlying indicators are hinting that things are getting worse. Each time the market makes a run, it seems to pull back just a little bit farther.
If you missed last week’s forum call, consider downloading are watching the recording. There was a lot of economic data to parse. The summary is simple: in the short term, this isn’t a very investable market. The data is getting pulled in both directions.
Five years from now? Probably a different story. Five months from now? Who knows?
If you’re trading this market, look for extremes. For example, the VIX, at least recently, has been a decent predictor. If it gets too low, the bears show up. If it gets too high, the bulls show up.
For this week, it’s holiday shortened and the VIX is pretty low. Not a good combo for the bulls…
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