2/13/2019- A positive day with the Dow Jones up 117 points (+0.46%) and the Nasdaq up 5 points (+0.08%)
The stock market remains at an incredibly important juncture. Things are about to accelerate in an unexpected way. If you would like to find out what happens next, based on our timing and mathematical work, in both price and time, please Click Here.
Yes, you have read it right, record 7 million Americans are 90+ days behind on their car payments.
“A development that is surprising during a strong economy and labor market”: New York Fed
Serious auto-loan delinquencies – loans that are 90 days or more past due – surged to 4.47% of total auto loan balances in Q4 2018, according to New York Fed data this morning. This put the auto-loan delinquency rate at the highest level since Q1 2012 and just 0.6 percentage points below the peak during the Great Recession in Q1 2011.
But, but, but……..
- The Nasdaq is on pace to end its longest period from a bear-market low to an exit in nearly 30 years
The Nasdaq Composite Index, often used as a proxy for the health of technology and internet-related stocks, on Wednesday was on the verge of ending its longest bear market, by one measure, since 1991.
The Nasdaq on Dec. 21 closed more than 20% below its all-time high set on Aug. 21, meeting the widely accepted definition of a bear market. After continuing its fall through Christmas Eve, marking its mos recent bear-market low, the index has punched higher alongside other major benchmarks.
In other words, either the economy will accelerate higher over the next few years and those millions of Americans will soon start paying off their loans -OR- this “magical” thinking on Wall Street will eventually meet its sudden demise.
Luckily, you don’t have to guess what the stock market will do next under such extreme conditions. If you would like to find out exactly what the stock market will do next, in both price and time, based on our timing and mathematical work, please Click Here.
Please Note: Our latest call was a direct hit. While everyone was panicking our work projected an important bottom on December 27th (+/- 1 trading day) on the Dow at 21,725 (+/- 50 points). An actual bottom was put in place on December 26th at 21,713.
