Signs of deflation have been popping up all over global asset markets for the past year, ever since the US dollar broke-out on its tear higher. US dollar index – 2 years But this doesn’t even tell the whole story. The US dollar index represents the value of the US dollar against a basket…
The Stock Market is Approaching Another Turning Point
The S&P 500 has essentially flat-lined since March but we’ve been losing breadth, meaning fewer stocks are participating in the rally, as shown in the chart below. The black line shows the S&P 500 over the past 2 years and the green line shows the number of stocks in the S&P 500 trading above their…