March 10, 2019
Weekly Market Outlook
By Keith Schneider
U.S. Equity markets reversed their relentless climb up this year and dropped between -2 to -4% for the week.
Risk Gauges flipped 100% negative by the end of the week, despite the rally into the close on Friday.
So, I’m not sure what my favorite piece of tabloid news was this week, but certainly, David Dukes support of Omar Ilhan was a top contender.
Seems like a merger is in the making and we will be able to economize on words. We can modify the term “Alt Left” or “Alt Right” to just Alt. Consider this the new normal.
Meanwhile, as the bickering on Capitol Hill ratchets up, the jobs report was very weak, China didn’t happen and added pressure to an already wobbly market.
Oh, and insider selling hit decade level highs. Do these people know something?
This week’s highlights are:
Our IWM Alpha Rotation model (excellent at market timing) which is based on 5 key inter-market relationships (gauges above) finally exited the last of its long positions after hitting new equity highs.
It is currently mostly in cash awaiting the next signal.