Breadth of the US Equity Market – Where’s The Damn Towel

As much as we prefer to look at the long term behavior of the advance/decline indicator, how can you not focus on its shorter term behavior when you are long a market that’s making new highs? The health of the S&P 500 index looks terrible as measured by net advances (advances minus declines) on a daily basis. This is not a typical bull market behavior. The fact that we are witnessing negative net advances when the market is supposedly the strongest it has ever been is a screaming anomaly.

This article was chosen for publication on Seeking Alpha. Please click here to read the article.

The Currency Crocodile

The BIS publishes excellent data on almost all the currencies in the world; one of the data sets that caught my eye recently was this one: BIS Effective Exchange rate, CPI based, trade weighted. Please click here to continue reading.


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