Posted by sbaxman111 on 25th of Aug 2017 at 03:39 pm
While FundStrat's Tom Lee has not been banned from ESPN, he may
well be banished from mainstream business media as not only is he
bullish Bitcoin, and the S&P's most-bearish strategist (target
2,275 year-end),
he is now calling for a 5% correction in stocks as market breadth
collapses...
"The constellation of evidence is growing supporting such a
drawdown," Lee explained in a note this morning, pointing to
the percentage of stocks on the New York Stock Exchange that are
trading below their 200-day moving average as a signal that is
flashing red warning signs...
NYSE DATA PREDICTIVE OF A DECLINE
Posted by sbaxman111 on 25th of Aug 2017 at 03:39 pm
While FundStrat's Tom Lee has not been banned from ESPN, he may well be banished from mainstream business media as not only is he bullish Bitcoin, and the S&P's most-bearish strategist (target 2,275 year-end), he is now calling for a 5% correction in stocks as market breadth collapses ...
"The constellation of evidence is growing supporting such a drawdown," Lee explained in a note this morning, pointing to the percentage of stocks on the New York Stock Exchange that are trading below their 200-day moving average as a signal that is flashing red warning signs...
Love that opening line...
Posted by steve on 25th of Aug 2017 at 03:47 pm
Love that opening line...