Tuesday, August 18, 2015
Market needs to shit or get off the pot here
We're still rangebound, but here are two hopeful pictures:
Story #1 these past few weeks in the gutter press has been the decline in US market breadth. Well, turns out that decline might have stopped in late July, about when BI got interested in the topic.
And transports have actually looked bottomed-out for a while.
This is a good solid base for an advance, but we'll have to see if it actually happens. There was a good note from Goldman recently that throws light on this, I'll post a link to that next.