Market Finally Cracks
Over the last few weeks, we have discussed that while the markets were continuing their seemingly "unstoppable" advance, there were many "technical extremes" reached.
Here is the problem with watching media headlines rather than paying attention to what is happening in the underlying market.
On Wednesday was this headline:
On Thursday, it was this:
Thursday was not a surprise. As noted in "Winter Is Coming:"
"The market is currently at historic market extremes. I explained this concept in much more detail in today's #Macroview.
However, the most critical point of