Here are the February PONZO forecasts for our index targets...SPY, QQQ and TLT.
Comparing the new forecasts to last month suggest a weakening market in both equities and bonds for the next few months. This has been somewhat supported by the generally weak tone and forward guidance of recent earnings reports, especially in some of the big tech names. Industrials are also under pressure while the FED remains the 800 pound gorilla in the bond/treasury market.