“Be not afeard: the isle is full of noises,
Sounds and sweet airs, that give delight, and hurt not.
Sometimes a thousand twangling instruments
Will hum about mine ears; and sometime voices,
That, if I then had wak’d after long sleep,
Will make me sleep again: and then, in dreaming,
The clouds methought would open and show riches
Ready to drop upon me; that, when I wak’d
I cried to dream again.”
William Shakespeare, The Tempest (3.2.96-104)
This past week’s sell off certainly awoke many market participants that had fallen into the complacent slumber of the Fed driven markets. This week’s newsletter is primarily focused on the technical underpinnings of the market and contained in “Sector Analysis” section below.
However, before I get into that, I want to discuss the current status of the market and the potential impact to portfolio allocations.
As shown in the chart below, the market has held onto its critical moving average since December, 2012 when the Fed initiated its latest liquidity intervention program (QE3).
….to view entire Market Report including the important Sector Analysis go HERE
