FAST FIVE: The Dual Mandate Of The Fed "Appears To Be The S&P 500 And Nasdaq"
The Dual Mandate Of The Fed “Appears To Be The S&P 500 And Nasdaq” Tyler Durden Sat, 08/01/2020 – 13:00 Authored by Sven Henrich via NorthmanTrader.com, With a furious rally in the last hour (when else?) markets closed the month of July slightly above the June highs bringing the S&P 500 to green on the year.
After all markets rose in 2019 on flat earnings growth and are rising in 2020 with negative earnings growth.
And make no mistake, the internal picture of this market is atrocious.
pic.twitter.com/Pi6YjCFnON – Sven Henrich (@NorthmanTrader) July 31, 2020 And $SPX went positive on Friday as $NYAD advance/decline was sitting in the -1400 range: And even the furious rally into close couldn't get internals to positive.
Everybody trying to make a quick buck bidding up crap that will never grow into any of the valuations they are bidding on.