57 Day Market Top Numbers

Waiting and Watching

Today is day 55 of the top.  The S&P close on March 7 was 1878 and the average price since is 1869.  The market views this as not a top but a consolidation level to launch to a new higher…Continue Reading →

Chicken or the Egg

What comes first, demand or capital expansion?  I think we see the answer day after day.  The Home Depot numbers today show slow demand, and yet the CNBC commentators are talking about their expectations of increased capital investment this year….Continue Reading →

The PPI-CPI Disconnect

In the past couple of days we have more evidence of the disconnect between the bullish producers and the bearish consumers.  In essence producers bid up their input prices so they can build inventory for the bull market they know…Continue Reading →

What if it wasn’t the Weather ?

Todays retail sales number has to give the Happy Talk crowd a pause.  There is no question that the large corporations are squeezing out the little guy in retail, just look at all the closed stores in your town.  This…Continue Reading →

“Everything is Well Crowd” is out Today

Day 46 of the rolling top is here.  The Dow, a basically meaningless group of 30 glamour stocks, is making new highs, yet the Russell which measures the real economy is still down significantly from its highs and for the…Continue Reading →

Position Rotations Since March 7

If one watches an old indicator, the Granville OBV in the way that I use it, you see something very interesting that is happening, prices are moving lower and activity showing placement of new positions by new players, especially in…Continue Reading →