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Preface from Tim: It’s been a long time since we’ve heard from Binkius Hippo (this one was from three months ago), but he emailed me this morning and, at my request, has allowed me to share his email here. I always appreciate his intelligent, well-informed perspective.
“You go to war with the army you have, not the army you wished you had.”
(more…)I was exploring the Slope Economic Database (which you can learn about here) and landed on some old data plots from England (yes, this is what I actually consider fun on the weekend). I thought I’d share a few of the charts here, since they’re pretty fascinating. As always, click on any chart to see a much bigger version. The description for each one is at the top of the chart.
Judging by one-day percentages lost, Monday’s market action was a bad day for Asian markets, as shown below.
China’s Shanghai Index is facing long-term major resistance at current levels, as shown on the following weekly chart of SSEC.
(more…)Germany’s Manufacturing PMI continued its decline from 2017 highs and entered into contraction mode in January. Data released on Thursday shows this contraction deepening for February, as shown below.
Is this a precursor to a recession? Look for a pattern on next month’s release (March 22) for possible clues.
I was on the long plane ride home from Cambridge to my beloved Palo Alto (cities that are identical in many respects, the temperature notwithstanding) and I saw the ES explode higher. (green tint, below). This was on the heels of a day that already had an EKG-style zaniness from the Fed Minutes. As I sit here now, both of these have faded away (red arrow).
