This is an abridged version of our Daily Report.
That can’t-lose feeling
Consumers in the U.S. have almost never felt as ebullient as they do now. They are comfortable and confident to a degree rarely, if ever, seen before. The few times in 50 years they’ve been as confident according to the Conference Board, stocks slid over the next 2-3 years amid soon-to-hit recessions.
Oil keeps hitting new highs
Crude oil has notched more than 30 days with a 52-week high so far this year.
That’s the largest cluster in a decade. Similar clusters of new highs over a 9-month period during the past 30 years has preceded continued upside momentum.
There has been a generally positive bias to “Fed days” when the Federal Reserve announces its policy on interest rates. That has changed since the end of QE in October 2014.
Over the past 3 weeks, the NYSE has generated the 2nd most Hindenburg and Titanic technical warning signals in 30 years.
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The post titled Consumers Can't Lose As Oil Ratchets Up New Highs was originally published as on SentimenTrader.com on 2018-09-26.
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