MOLE’S MID 2019 MONSTER MARKET MOMENTUM UPDATE
It has now become clear that we are not just traversing a minor market correction we should expect to blow over quickly and painlessly. With Mexico now added to a growing list of nations facing import tariffs into the United States, a growing sense of economic uncertainty and portfolio risk is beginning to take hold among investors. After a morning stroll through my collection of market momentum (mamo) charts I am unfortunately unable to find much reason for optimism, at least over a short to medium term perspective.
As you may recall the VIX triggered a bonafide buy signal (in respect to equities) two weeks ago. What happened next was slight advance on the S&P cash which however was unable to overcome the crucial SPX 2850 mark.
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