• 350 days Will The ECB Continue To Hike Rates?
  • 350 days Forbes: Aramco Remains Largest Company In The Middle East
  • 352 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 752 days Could Crypto Overtake Traditional Investment?
  • 756 days Americans Still Quitting Jobs At Record Pace
  • 758 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 761 days Is The Dollar Too Strong?
  • 762 days Big Tech Disappoints Investors on Earnings Calls
  • 763 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 764 days China Is Quietly Trying To Distance Itself From Russia
  • 765 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 769 days Crypto Investors Won Big In 2021
  • 769 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 770 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 772 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 772 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 776 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 776 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 777 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 779 days Are NFTs About To Take Over Gaming?
The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Billionaires Are Pushing Art To New Limits

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

  1. Home
  2. Markets
  3. Other

The State of the Trend

Kudos to signor Draghi who single handedly sparked a market rally of Olympic proportions. As a result, the SPX remained firmly within the uptrend channel, and reached a preliminary resistance level:

Although market momentum has reached its limits:

market breadth hasn't reached overbought levels yet, suggesting that one more push higher, to coincide with month end window dressing, cannot be excluded:

And since we started this article with a reference to Europe, here's my take on what's going on there. In my view, the Union is going through its own "perestroika" (remember that term?), aimed at keeping the status quo intact. Since the EU is not the Soviet Union, maybe, just maybe, they have a chance at succeeding. If not, however, the end will be very similar. When the parties involved realize that the political/monetary break-up is inevitable, it will happen very quickly, within a matter of weeks. It will, probably, be followed by years of pain and hardship for the masses, but it will not be the end of the world, and a new political/economic entity/ies will emerge.

On that happy and positive note, it's time to enjoy the summer, and let the Games begin!

 

Back to homepage

Leave a comment

Leave a comment