Three Horsemen Holding On, Barely
Here we are in June. Market players remain focused on there much anticipated but delayed upside breakout. It would appear today a belief the Greek debt deal has to be resolved, because the alternative would be too dire, is the main factor. Personal income numbers continue to point to a lack luster trickle down economy.
The Three Horseman made a all time high close last Thursday at 105.27 and closed at 105.17 on Friday. Today we saw some initial excitement with a move up to 105.37 but at the moment it has settled back to 104.71. For easier viewing this short term index was reset to 100.0 on May 1, 2014.
Again we view 99.0 on the close as a warning signal to start looking at more Macro Indicators.