Time and time again I point out various “things” that act as a canary in the coal mine for their respective markets.
As usual, we have one of those “things” continuing to work right now.
Although not today, the Russell 2000 small cap index has been on the rise since late last week and appears to be headed higher.
Over the last few days I have both indicated I thought a top was in the market, and then indicated that we need to see a trend change confirmed before making any rash decisions.
It still looks to me like the S&P500 really wants to break 2000 and we may get there come hell or high water.
There appears to also be a high probability of a large move one day this week, discussed in today’s video found below.
On the news front, the word events remain the same even though some of the media outlets continue to insist things aren’t as bad as they seem.
Europe is struggling, which is why they are in a negative interest rate environment. I showed a short video on what the marque bank in Germany looks like, and it’s not pretty. There is the failed bank in Portugal – Banco Espirito Santo and more to follow.
Iran is pulling the same old game of hide the enriched uranium. Who actually thinks they’re going to stop enriching uranium and have decided to forget about the long term goal of getting a nuke. I realize our “leaders” think they’re doing great, but to most of us looking from afar, it sure seems like they’re getting played…
Israel is attempting to defend itself against Hamas who has never, and most likely will never want peace with Israel. Everyone knows what they want. It may only be a matter of time before another country or “group” decides to get in the game.
Russia, Ukraine and all the terrible events surrounding their conflict.
This is not intended to be a world news feed or have political ties, but you must realize the sentiment implications of what’s transpiring. Right now, bad news is fine and good news will be great.
There will come a time when the bad news will be viewed is really bad news and based on what’s boiling around the world, it’s going to be seen as really, really bad.
Right now, don’t worry, be happy until further notice. If there was ever a time for patience, this is it.
Watch the video: