presidential election

In recent weeks Bank of America's new chief technician Stephen Suttmeier has been surprisingly bearish, predicting that the rally is over, as Tom DeMark cautioned yesterday, key support levels are not defended in which case the S&P 500 is looking at a substantially greater drop. Today, his skepticism reached new heights, when he warned that should the failure to break out higher persist then the market is facing a drop to as low ast 1575-1600, something which even Goldman now agrees with.

Below is an excerpt from his latest attempt at a diplomatic guide down:

Following this week's ongoing demise of the US manufacturing sector, tumbling to its weakest since October 2012, Markit US Services PMI collapsed into contraction at 49.8, massively below expectations of 53.5. This is the weakest level for the last pillar standing in the US recovery since the government shutdown in 2013, and as Markit even admits, "slumping business confidence and an increased downturn in order book backlogs suggest there’s worse to come."

In the past several years, many trees have been felled and pixels electrocuted in the service of discussion about the impact of Hispanics on the American electorate. No one knows for sure which way they’ll vote in the future but everyone is interested in discussing it. Curiously, though, an even larger political shift is taking place yet receiving almost no attention whatsoever from political reporters—the emergence of post-Christian America.

Submitted by John Whitehead via The Rutherford Institute,

There are two opposing narratives among Republicans to explain how their party’s standard-bearer has lost the popular vote in five of the last six presidential elections, despite GOP dominance in state legislatures and governor’s mansions across the country.