U. S. equities look worryingly vulnerable, warns Bloomberg’s Mark Cudmore, warning that Trump’s doubling down on his hardline autocratic approach ensures that markets won’t be able to overlook the implications of his immigration order.
I apologize if this piece seems very similar to three of my last four columns, but markets are exhibiting exceptional complacency… That attitude may shift rapidly.
Today, futures are signaling that the S&P 500 Index may break the post-election upward trend and also fall below the 2017 volume-weighted average price of about 2,273.3. That means that on average, recent buyers are losing money while the technicals suggest holders of stocks that have made money may want to consider taking profit.
This post was published at Zero Hedge on Jan 31, 2017.