I told you I’d get you the rest of my Fed meeting notes soon, and (unlike the Fed) I always try to say what I mean.
Most of the little tidbits I gleaned from the latest meeting minutes (go here if you missed my expose earlier this week) are prevarications, obfuscations, or bald-faced lies. Here are a few.
Lie #1: Equities rise and fall because of investor behavior.
Here’s what they said:
Sometimes, my charts make me feel like Jekyll and Hyde.
The forces of macro liquidity tell us that the stock market (and the bond market too) are likely to top out and head into a bear market beginning in Q1 2018 or shortly thereafter. But this week the S&P 500 broke out above 2600. Technical cyclical analysis suggests that prices could be headed much higher.
So which is it? Are stocks the next bitcoin? Or are we staring the bear in the teeth?
How can we reconcile these apparently conflicting views that are coming from the two prongs of my analytical work? Maybe… there really is no conflict. (Cue suspenseful music.)
Here’s what you need to know to take advantage of what this market is likely to hold in store for us in 2018.