The market's got no alibi.
Today's action feels uglier that the minus 1% on the S&P 500 so far. The NYSE advance decline today has 26% up and 69% down and there are similar numbers for the Nasdaq.
Jason Maxwell from TCW Group just pointed out that the S&P 500 is up 5% year to date so its a good year so far. OK but Germany, as measured by iShares Germany (EWG), is up more than 20% YTD.
Like many others I can't get enough adjusted for inflation numbers. As a man who just turned 40, the cost to fill up a gas tank from before I was old enough to drive is very relevant to my thinking (read sarcasm).
That gold is way below where it was adjusted for inflation does not really mean much. The price has doubled in the last few years and I think the trend is more important, for now, than the level, be it real or nominal.
Wikinvest Wire
2 comments:
I think the higher oil, gold and gasoline go, the lower equities will likely be pressured. Higher input costs mean higher probability of more rate increases. The market may be keen to that and that's the rationale behind today's sell-off.
Great Fishbone reference - I hadn't thought of them in a very long time.
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