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For a second there we almost got the impression Bob Janjuah was getting a tad bullish, if even just in the short-term. This just released note removes any fears we may have had the frmr RBS strtgst, and current Nomura Fixed Income Contributing Strategist may have lost his touch. Bob’s World: You have been warned! Herein I provide an update with a link to my last two notes (here, here): 1 – The [...] From Kimble Charting Solutions: Some assets can give investors a leading edge to larger-term market moves in the near future and assist them in portfolio building! The Power of the Pattern shared it was time to get picky on these tools back in February (see post here) as Basic Materials/FCX/Copper were creating topping patterns. This morning, the U.S. dollar is hitting two-year highs and and IYM is attempting to break the bottom [...] From Kimble Charting Solutions: When it comes to leading indicators, Basic Materials (IYM) and Copper (FCX) have been pretty spot on for the past year. Both have been reflecting relative weakness compared to the key broad market indexes, suggesting a global contraction was in the cards months ago. Now these leading indicators are… Read full article… The benchmark S&P 500 index is not really down by that much from its highs. The decline is on the order of 7%, which is significant, but not a massacre. However, there are massacres happening in this market if you look at the right places, and especially if you look at some areas which are very economically sensitive. Check out a chart of BP, which is getting hit by the double whammy of a slowing [...] From Kimble Charting Solutions: A year ago today, the S&P 500 hit its 2011 highs. Basic Materials ETF (IYM) reflected weakness before the 500 hit its highs. Looking back on the past one year, IYM is trailing/underperformed the S&P 500 by 20%. Odds are pretty high that the S&P 500 needs this sector to break falling resistance, before an extended and quality upside move in the 500 is to take place. Watch this [...] From All Star Charts: Sector rotation is something we talk about a lot. This is a really important characteristic for bull markets and we can’t ignore it. So with Consumer Discretionaries and Financials sitting at or near their year-to-date highs, we turn our attention to some global growth areas. Think about how strong the stock market has been without the participation in energy and basic materials. Last Friday, we discussed that it [...] For the most part, people’s predictions about the future tend to be strongly rooted in the short-term past. It’s just an easy, human way of thinking about things, we suppose. That being said, from a market perspective, 2012 is NOT shaping up like 2011 at all. Bespoke has a big table of ETFs that it tracks that are the most above their 50-day moving average, which is a useful way of looking [...] From David Rosenberg’s latest Breakfast with Rosie, from Gluskin Sheff Reality Check: The S&P 500 is no higher now than it was on February 7. Yet, so many pundits still believe we are in a flaming bull market. |
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