This week's Ponzo Updates argue for a distinctly bullish outlook....at least for the next few months. SPY is on a strong upward momentum while the VIX shows a waning trend and, perhaps most telling, the outlook for TLT is bearish. Of course, with SPY at an all time high and TLT only one day off its all time high there may be some volatility at this level but the odds favor a bullish SPY.
Such a forecast is at odds with many of the more respected market
gurus and with the onset of earnings season we may see some negative reactions to expected weak earnings...mentioned in the State Street link this weekend....especially in the wake of
Brexit.
