Going back not only to March of 2009, but also to the last cyclical bull from 2003-2007, we have not seen three consecutive red monthly closes on the S&P 500, until now. And yet, as you can see below on a monthly chart of the S&P, the bears have barely made a dent on the overall progress of bulls over the past two-plus years, in terms of price giveback.
______________________
I’m thinking we get a short rally after a debt ceiling agreement and then we roll over into a secular bear.
the economy will take over.
however, not sure if you follow consumer metric institute (CMI), but consumers have been spending a truck load since May.
Citation please? What’s the Consumer Metrics Institute?
The only official CMI indicator is NACM’s CMI.
Here’s what the NACM’s Credit Managers Index (CMI) released this morning (July 29) says: http://web.nacm.org/CMI/PDF/CMIcurrent.pdf
“The CMI numbers for the last three months show a general slowdown in business activity. There
has been a slump in sales, a reduction in the number of new credit applications and a slowdown in the collection process. The economy is essentially stalled and the question is whether this is a reaction to something short term or a reflection of some greater underlying trend”
Consumerindexes.com
Overlay sp and you’ll see some interesting reults
Indeed curious that the past 4-months have seen buying tails while this month has seen our first red selling tail since Nov. ’10.
Don’t you always say it takes months to form a top? This could be it…no?
Interesting point. I guess I would need to see more price swing and more volatility, but you are correct that I should not rule it out.
Indued!
Wow volume has been gone for a while.
#FUCKYOUWASHINGTON
There can be only one cause…
The PPT!!!
http://www.youtube.com/watch?v=V-qufOWDawU
not sure what you’re looking at, but we’ve definitely had 3 consecutive monthly closes lower.
three times in fact over the period you stated.
http://goo.gl/hW8tJ