This past week in the daily blog posts I did a good bit on macro analysis on the markets that I thought were worth repeating this weekend. I am only reprinting a portion of the work, but I have provided the links to the full pieces if you wish to read them in their entirety.
However, before I get into the macro analysis, let’s discuss the recently rebound surge in the markets over the last four weeks.
First, after breaking numerous technical supports the markets staged an immense short-covering rally that has taken markets back to new highs. While the move itself is not that abnormal, the extreme elevation of the move is. As you can see in the chart below, this is the sharpest move up in the markets since the turn of the century.
….for larger charts & more commentary go HERE