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Market Musings

Investors smelling expectations of an interest rate cut by the FED ignored economic data and pushed the indices to new highs!

Do you smell the tulips yet?

The STI (Simple Timing Indicator) which is the number of "A" rated stocks in the IBD database  moved higher this week.

Company bankruptcies in June continued to increase. Mortgage and credit card delinquencies are also increasing.

Employment is increasing in government jobs while private jobs are going to non-US citizens.

The FED denies that a recession has started but a few former FED insiders believe otherwise.

Do not forget that about 25% of the stock markets value is held by only 5 stocks ... danger ahead?

Have we reached the Minsky moment?  The dollar's reserve status is slipping away taking the U.S. economy towards a slippery slope.

And don't forget that the elections are just ahead!

Still if you  believe the government's data, you could think that the economy is doing better. 

 Looking under the hood paints a much different picture according to Shadow Government Statistics.

Dare I say that it will be at least another year of dismal U.S. and world economic growth.

And that is if we don't enter a major military war with either Russia or China.

Do not be surprised if the NASDAQ falls through 8,000, the SPX to 2,500 and the DJIA sees the 25,000 level.

Remember -- "Only purchasing power counts!"

By any reasonable measure, this market is dangerous.

Be careful ....

To review the 07/12/2024 FlowChart, click here.

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