INTENSIVE: THE MARKET IN PICTURES

Posted by Lance Roberts - The X-Factor Report

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INSIDE THIS ISSUE

  • Signs Of A Market Top
  • Valuation & Deviation
  • Technicals

Sector Analysis

  • Major Markets
  • S&P 500 Strong Sectors
  • S&P 500 Weak Sectors
  • Interest Rates, Gold, Oil

Suggested Reading

  • 5+1 Things To Ponder
  • GDP-A Restocking Story
  • LEI-Fed Skewing Data
  • Fed Won’t Taper Soon
  • Economy In Pictures
  • Bond Strategies

The Market In Pictures

This past week I wrote an article entitled “The Economy In Pictures”which was a pictorial tour of various aspects of the economy to let you decide for yourself about the real strength, or weakness, of the economy. 

This past week we got two economic reports, GDP and Employment, which blew past consensus expectations at the headline number. The problem, however, is that the internal details of the reports told a very different story. For example, the bulk of the surge in the GDP report came from unwanted inventory builds as consumption has slowed. Much of the same was evident in the October jobs report that showed a headline increase of 204,000 jobs even as over 900,000 individuals left the workforce entirely. 

This is very representative of the problem that has existed for much of the past 4 years. While there has been a sluggish “statistical”economic recovery because of the way things are counted; the“actual” recovery on “Main Street” has been starkly different.

Yet, even as I write these words, the stock market has been pushing all-time highs as the Federal Reserve remains committed to its current liquidity programs. There are relatively few headwinds ahead of the market currently and even the upcoming return of the debt ceiling debate in January is likely to be a fairly quiet and non-market moving event.

Therefore, the bias of the market at the moment remains to the upside as technical trends remain in place. The control is currently in the grasp of the bulls and we remain allocated to the markets currently. However, that does not mean that it can’t, and won’t, change in the future. It will. What goes up will come down and the farther from the earth the market has traveled the greater the fall will be.

This week’s missive will have minimal commentary. However, I present to you the market in pictures so that you can judge for yourself.

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.….read more and view 26 more pictures HERE

 

 

Lance Roberts is the General Partner & CEO of STA Wealth Management, Host of the “Streettalk Live” Daily Radio Show (streamed live at www.streettalklive.com), and Chief Editor of the X-Report and the Daily X-Change Blog.
Follow me on Twitter: @streettalklive