A slight down day with the Dow Jones down 21 points (-0.13%) and the Nasdaq down 1 points (-0.02%).
The market sold off early in the day on St. Louis Fed President James Bullard now infamous comments that the “markets are wrong”. Perhaps he is an avid reader of my blog.
“You are basically going to be near normal on both dimensions basically later this year,” Bullard said in an interview with Fox Business Network. “That’s shocking, and I don’t think markets, and I’m not sure policymakers, have really digested that that’s where we are.”
AKA….rates hikes are coming sooner than anyone believes and most markets DO NOT have this priced in. While I can argue against the rate hikes, he is right about one thing. The markets are way out of sink with reality. The Dow disagreed with such an assessment and bounced right off its short-term support at 16,750 to stage a massive come back. Yet, don’t expect this upward trajectory to last that much longer.
This conclusion is further supported by my mathematical and timing work. It clearly shows a severe bear market between 2014-2017. In fact, when it starts it will very quickly retrace most of the gains accrued over the last few years. If you would be interested in learning when the bear market of 2014-2017 will start (to the day) and its internal composition, please CLICK HERE
(***Please Note: Due to my obligations to my Subscribers I am unable to provide you with more exact forecasts. In fact, I am being “Wishy Washy” at best with my FREE daily updates here. If you would be interested in exact forecasts, dates, times and precise daily coverage, please Click Here). Daily Stock Market Update. June 26th, 2014 InvestWithAlex.com
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Daily Stock Market Update. June 26th, 2014. InvestWithAlex.com Google