Is There An Addiction to QE Money?

By: Marty Chenard | Fri, Mar 20, 2015
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Some say that "common sense" is gone and the "more" addiction is kicking in.

Take a look at this 10 month chart of the NYA Index. If you note labels 1 and 2, it shows a "double top" where the NYA Index was not able to move beyond that level.

And then ... a third attempt was made at the end of February with that failing to the downside. Inflowing Liquidity is very strong now, so a fourth attempt is very likely. What will be important is what happens after the next attempt.

This is a dangerous area because the market is looking for a quadruple upside breakout when earnings are having great difficulties. This is a time to be cautious and hedge anything you do.

NYA Index

 


 

Marty Chenard

Author: Marty Chenard

Marty Chenard
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