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Smart Money Likes Tangibles

By Richard Russell

 

I’m writing this an hour before the close. The stock market has locked into a trading range with the Dow up 13 and Transports up 34. The tech-heavy Nasdaq is up 30. I believe it’s significant that the Dow resists climbing above 18,000 again.

 

There are 8 distribution days on the Nasdaq and 8 on the S&P, which indicates a good deal of institutional selling. The four smartest men I know are now bearish, but this doesn’t mean anything. Analysts are applying every known method in their effort to call the top of this amazing bull market.

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The presidential election of 2016 is now making headlines in the media. Naturally, the Obama administration is painting the economic picture as bullishly as it can. But underneath the bullish projections, the US economy is staggering as it sinks into near recession mode. The smart money knows that the US economy is sick, and the ... Log in or subscribe to continue reading.


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