I recalled a recent conversation with a client while listening to an excellent, wide-ranging interview with investment legend Jeremy Grantham last week.
Sunday, January 24, 2021
Friday, January 22, 2021
December truck tonnage (Christmas online shopping) -- our only needle-mover this week -- jumped from negative to positive (2 points) in our scoring, bringing our macro index back to zero.
You guessed it, even though the major averages are giving some back this morning (ostensibly on COVID headlines), their degree doesn't do justice to the stink of the underlying breadth.
Thursday, January 21, 2021
You're probably growing tired of my harping on how market internals (breadth in particular) remain anything but inspiring to start the year.
Yeah, I wish it wasn't so, but we're here to see things as they are and invest accordingly.
Wednesday, January 20, 2021
Yep, the calendar's turned and a new administration's assuming "power", however, on too many days in my view so far this new year the opening market action smacks of 2020.