The following report and analysis has been contributed by Adam Taggart of PeakProsperity.com
Bull market liftoff? Or bear rally rollover?
Stocks are at an inflection point.
After a bruising end to 2018, the major indices caught fire at the turn of the New Year as the world’s central banking cartel leapt into action. Here’s how the US Federal Reserve reacted:
The central banks have more than demonstrated that they are now subservient to the markets. Losses will not be tolerated
Which is why the chart below by Sven Henrich goes far in explaining why they’ve been in full panic mode this year: a major long-term technical breakdown threatened. As prices fell in later 2018, the S&P 500 broke through a trendline that had remained unviolated since the markets began recovering from the Great Financial Crisis in 2009:
As Sven has been doing an excellent job of monitoring, this violated trendline may now have flipped from “support” to “ceiling” for the S&P.
Which may be why we were treated to not just one, but three Federal Reserve chairs during last weekend’s episode of 60 Minutes. Their triple-strength “all is well” show of force was good enough to juice the S&P back up to the …read more