What is Going on Here ?
The January rally has seemed to be of a nature based on some catalyst of a change in direction in Washington. This change that seems to be perceived is that the House Republicans are being pushed into the background by a segment of the Republican Party that wants to win in 2014 rather than be right on their adopted ideology.
At the same time the Davo’s crowd of big money big picture people are pushing a low deficit reduction direction which they hope will mean more money in their pockets in the next few years. See link here:
Bottom line, the austerity and fiscal cliff worries are being muffled. This leaves a big question, will they be successful?
Significant changes are being indicated today in a few of our Marco technical indicators.
The Hot Tech Stocks are seeing their Long Term trend turn down, the first change since 4/2/09.
The Big Tech Stocks are seeing their Macro Wave indiator turn down today also, the first change for it since 10/07/09.
And, Gold is seeing its Intermediate Macro trend turning down and getting in sync with the Long Term Macro trend which turned down on 12/20/12.