Professor Glenn A. Okun
The Rabid Capitalist: The Big Point is a summary of a detailed note available to paid subscribers.
The monthly monitor has rebounded. The public equity market, as measured by the S & P 500 index, is forecasting a bright future. Unfortunately, some threats remain.
The good
Credit spreads have remained affirmative market indicators. The bond market is trading in anticipation of an aggressive Federal Reserve interest rate easing cycle.
Measures of investor risk appetite have turned positive. The ratio of 52-week highs to lows has strengthened and ARKK has rallied.
The bad
Credit quality and market valuation threaten stock market stability at its current price levels.
The market remains overvalued.
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