Authored by Raul Ilargi Meijer via The Automatic Earth blog,
John Rubino recently posted a graph from Bob Prechter’s Elliot Wave that points to some ominous signs. It depicts the S&P 500, combined with consumer confidence and savings rate. As the accompanying video at Elliott Wave, What “Too Confident to Save” Means for Stocks, shows, when the gap between high confidence and low savings is at its widest, a market crash -often- follows.
Authored by James Stack via InvesTech.com,
From public confidence to bullish sentiment to the normally mundane employment data, the U.S. economy and stock market are reaching historic levels not seen in decades. Last month, consumer confidence hit its highest level since December 2000. The percentage of bullish investment advisors recently touched lofty levels that were last reached in January 1987. And this month, the U.S. Department of Labor announced that job layoffs dropped to a 44-year low!
Economic Data continues to surprise to the upside (compared to what had been terrible expectations)...is this as good as it gets?
But credit, the yield curve, and now stocks are not loving it...
Yesterday's torrid, broad-based rally looked set to continue overnight until early in the Japanese session, when the USD tumbled and dragged down with it the USDJPY, Nikkei, and US futures following a WSJ report that Robert Mueller had issued a subpoena to more than a dozen top Trump administration officials in mid October.
Authored by 720Global's Michael Liebowitz via RealInvestmentAdvice.com,
“Before long, we will all begin to find out the extent to which Brexit is a gentle stroll along a smooth path to a land of cake and consumption.” – Mark Carney, Bank of England Governor