Another Yellen Boost
It is mid-July, we still have a couple of weeks before the second quarter GDP results are posted (probably confirming that the economy is still below end of 2013 levels ). Again, this is just another tag on the Fed program that has not done the job, and yet this week Yellen will bring more happy talk to the table in her testimony this week. The Market has to rally, right.
And we are ninety days into the top that started evolving on March 7th. Europe and the Russell are the weakest so far during this process, but it will not take long to see the others unravel.