www.armstrongeconomics.com
Despite the bears, the US share market continues to press against new
highs. The Cash S&P5oo closed at 212990 after reaching 213171
intraday. The record high remains the week of May 18th, 2015 when it
reached 213472 closing at 212606. The highest weekly closing was the
week of July 13th, 2015 at 212664. Therefore, we have not made a new
intraday high, but this was the highest weekly closing.
The Dow close at 1814674 on Friday, which was neither a new high
weekly closing nor a new intraday high. The highest weekly closing was
the week of May 11th, 2015 when the Dow closed at 1827256.
It appears we should see a turning point this week with high volatility
returning the week of the 18th. We will explain more on the private blog
tomorrow. So far, this has been following our capital flow models very
nicely.
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