Daily Reading on the Financial Markets: 7/1/12
It looks like all that pessimism may need to go on hold with Friday’s break above minor trendline resistance. Some of my favorite technical analysts point to reason for more upside.
Chris Kimble notes that the Australian Dollar marked the bottom (again) and suggests there may be more upside to come.
At Advisor Perspectives, John Carlucci’s preferred metric – the percent of S&P 100 companies above their 200 day moving average – is back into safely bullish territory.
Also at Advisor Perspectives, Ed Easterling takes a step back and notes that, from a P/E perspective, we are likely in a secular Bear market that still has a ways to go.
I will be out of town most of this week – and really for most of the next three weeks – so I apologize in advance to those who take the time to visit here if I’m not able to get many posts up over the first half of July.