Tuesday, July 22, 2014

Some Tuesday news

I am incommunicado all tomorrow, so there's your fair warning.

But as long as it's still today, here's some genuine factual information for you to consider, instead of the ignorant speculation and uneducated blather that you get from the rest of the blogosphere:

Liz Ann Sonders - market update. Everything is still fine, but it's good to have her around to 'splain it to us.

BI - June CPI. No surprise.

Bespoke - gasoline prices going down. In the summer, even! Looks like US consumers are going to get a boost.

Reformed Borker (Bork Bork Bork!) - the SPY:IWM divergence. As you'll remember, I identified this in the past week. Josh takes the divergence as a sign of a market top, while I take it as a sign that IWM is due to outperform to get back up to the longterm trend. The market top whining just gives me even more confidence that I'm right. And look at today's action, Josh! You might just have bottom-ticked the IWM! I guess that's why Barack Obama reads my blog and not yours.

FT beyond brics - the free ride for EMs is over. Yabut, they don't simply have to improve productivity; they have to do it in the market context of increasing interest rates and reduced investment capital.

Reuters - depleting reservoirs need rains to prevent crop loss. Things are starting to look bad in India, the country that buys all the gold.

Mineweb - metal ETFs lure investors at fastest pace since '09. I guess the market has decided that we're not at the end of a commodity cycle after all?

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