One Man’s Opinion: The Truth About The Great Depression That All Mainstream Economists Ignore

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OneMan'sOpinionBy Phoenix Captial

Ben Bernanke is back at it.

Bailout Ben, the “hero” who missed the housing bubble, then oversaw the single largest handout in crony capitalist history, all the while playing favorites and lecturing the rest of us that we should be grateful that he “saved” the world, is in Japan.

His purpose?

To help them implement Helicopter Money.

This is the same man who generated the single weakest recovery in history after wasting $3 trillion in QE. On a per job basis, the Fed, under Bernanke, spent over $300K for every job created post 2008.

In Bernanke’s world, failure of this magnitude is not because you’re wrong, it’s because you didn’t do “enough.”

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ETFs/Mutual Funds On The Cutline – Updated Through 07/15/2016

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Below are the latest ETF Cutline reports, which show how far above or below their respective long-term trend lines (39 week SMA) my currently tracked ETFs/MFs are positioned.

The first report covers the ETF Master List from Thursday’s StatSheet and includes 381 ETFs, of which currently 332 (last week 310) are hovering in bullish territory.

The second report includes only High Volume ETFs. To clarify, High Volume (HV) ETFs are defined as those with an average daily volume of $10 million or higher. Volume figures can change in a hurry, so be sure to check first before investing.

These ETFs are generated from my selected list of 98 that I use in my advisor practice. It cuts out the “noise,” which simply means it eliminates those ETFs that I would never buy because of their volume limitations. 83 ETFs (last week 77) have managed to remain in bullish territory after the recent market volatility.

The third report covers Mutual Funds on the Cutline. There are currently 711 (last week 623) above the line and 157 below it out of the 780 that I follow.

Take a look:

  1. ETF Master Cutline Report
  2. ETF High Volume Cutline Report
  3. MF Cutline Report

In case you are not familiar with some of the terminology used in the reports, please read the Glossary of Terms.

If you missed the original post about the Cutline approach, you can read it here.

ETF/No Load Fund Tracker Newsletter For July 15, 2016

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ETF/No Load Fund Tracker StatSheet

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https://theetfbully.com/2016/07/weekly-statsheet-for-the-etfno-load-fund-tracker-newsletter-updated-through-07142016/

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Market Commentary

FRANCE INCIDENT PULLS MARKETS LOWER TO END THE WEEK

Fri pic

[Chart courtesy of MarketWatch.com]

1. Moving the Markets

The stock market here in the U.S. ended mixed Friday, despite some decent economic and earnings news this week, as the mood of the market was pulled down by the latest terror attack in France.

As you may know, the market has been on a record-setting run since the Brexit vote. Overnight in France, however, a driver of a truck ran down pedestrians, killing 84 people and injuring many more. The latest strike in France, presumed a terror attack, raises fresh questions about global security. Events such as these can “spook” markets the day or two after they happen and this time was no different.

In earning news, Citigroup (C), despite a 14% drop in quarterly earnings vs. a year ago, topped both earnings and revenue projections. The company’s shares lost 0.3% though despite the earnings beat. Wells Fargo’s (WFC) quarterly results came in equal to expectations and shares subsequently fell 2.5%.

In China, second-quarter economic growth allegedly clocked in at 6.7%, unchanged from Q1 2016, but above economists’ forecast. Stabilization in the Chinese economy, engineered to a great degree by stimulus efforts of policy makers, is another plus for so-called risk assets, such as stocks. Here in the U.S., June retail sales in the U.S. rose a solid 0.6%, well above the 0.1% rise expected, although the fly in the ointment was that it came from a decidedly weaker than initially reported May.

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Weekly StatSheet For The ETF/No Load Fund Tracker Newsletter – Updated Through 07/14/2016

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ETF/Mutual Fund Data updated through Thursday, July 14, 2016

TOC063016

If you are not familiar with some of the terminology used, please see the Glossary of Terms.

 

1. DOMESTIC EQUITY MUTUAL FUNDS/ETFs: BUY — since 4/4/2016

TTI

Our main directional indicator, the Domestic Trend Tracking Index (TTI-green line in above chart) remains above its long term trend line (red) by +2.78% after having generated a new Domestic Buy signal effective 4/4/2016 as posted.

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Markets Higher, But Speculation Still Remains

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Thur pic

[Chart courtesy of MarketWatch.com]

1. Moving the Markets

The Dow and S&P 500 indexes moved higher Thursday, pushing further into record territory as investors (domestic and abroad) reacted to a positive earnings report from JPMorgan (JPM) and continued to price in/hope for further stimulus from global central bankers despite interest rates remaining at depression levels.

Investors got a boost from a strong earnings report from JPMorgan (JPM), the nation’s second largest bank by assets. The closely watched bank reported Q2 earnings per share of $1.55, which surpassed the $1.43 analysts had expected. Revenue also topped expectations and shares jumped more than 1.5% on the day.

Wall Street was also reacting to a decision by the Bank of England to keep its benchmark interest rate unchanged at 0.5%. It was the first meeting of the BOE following the June 23 vote by Britain to exit the European Union, and investors were expecting a quarter-point rate cut. Still, the BOE said it expects “monetary policy to be loosened in August,” when it meets again.

Stocks around the globe have rallied sharply in the aftermath of the so-called Brexit vote. Again, the rebound rally has been driven in large part by a realization that global central bankers will further stimulate economies to offset the fallout and uncertainty caused by Britain’s surprise vote to leave the single-market European Union. At least that is the convenient excuse that will be used many times over, especially if a severe market pullback materializes.

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Winning Streak Takes a Breather

Ulli Market Commentary Contact

Wed pic

[Chart courtesy of MarketWatch.com]

1. Moving the Markets

The U.S. stock market, which is now enjoying its second-longest bull run ever, closed lower today despite decent reports on the U.S. economy. While some Wall Street pros say the recent surge has put stocks temporarily in an overbought state, the general consensus is that the bull is alive and well and will post further gains as the breakout continues unless reality with underlying fundamentals sets in.

The Fed stated today that the U.S. economy picked up modestly in late May and June as the recovering housing market underpinned growth while the beleaguered manufacturing sector improved somewhat. Surprisingly, the summary said that employment continued to grow modestly despite the 287,000 June job gains reported by the Labor Department last week.

Manufacturing has been the biggest blemish on the economy for well over a year as weakness overseas and a strong dollar curtailed exports, and low oil prices have dampened investment in the energy sector. Commercial real estate sales and leasing also was stable or improved the Fed said.

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