Today, is my last day of vacation. Later this afternoon, my family and I board a flight that will leave this tropical paradise behind and return us back home to Houston, Texas. Since I have a few hours of flight time ahead of me, I have prepared a reading list to pass the time. The last week of being detached from my daily routine has given me a good opportunity to recenter my views on the economy, the markets and overall investor psychology. While the markets have improved since the “resolution” of the Greek crisis, in my opinion I would have expected substantially more given the overall “angst” that the situation was generating. Yet, as of Thursday’s close, as shown in the chart below, the market remains in a bearish consolidation pattern. Furthermore, relative strength, momentum and volume remain a detraction from the “bullishness” of this week’s “crisis resolution rally.”
This post was published at StreetTalkLive on 15 July 2015.
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