3 Charts for Tuesday
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Here are some charts you might find interesting ...
According to Chart of the Day, the first year of this current correction in the markets is the most severe of all major Dow corrections since 1900.
Next, let's look at a chart of the growth in Federal Reserve assets ...
The Federal Reserve is currently engaging in an unprecedented expansion of the money supply. Is that inflationary? We'll see.
Next, let's look at a monthly chart of the S&P 500 ... On this monthly chart of the SPDR Trust, which tracks the S&P 500, I’ve circled the “long-tail” bounces – where the leading stock index sold off hard, only to reverse and move higher. Two of the last three times this has happened, this signaled that the “tail” low wouldn’t be violated for a couple of months.
This doesn’t mean the bear market is over by any means. But we could have a playable bounce.
Labels: US economy