Dan Greenhaus Declares: “Risk off indicators are mounting.”

Source

“In his latest note, BTIG’s Dan Greenhaus declares: “Risk off indicators are mounting.”

He argues that there are reasons to be “skeptical” about markets are current levels.

Some specific points:

• Overseas markets are breaking down.
• Germany and France are now down three of the last four weeks.
• The aussie dollar, a great barometer of economic health is sliding.
• The US data is weakening, though is not definitive.

Says Greenhaus: Key levels to watch are 1370 and 1311 on the S&P”