Call me a perma-bear with these charts. Call me what ever you want. But I do not invent the data, I just look at it and post it when I think it is relevant.
A subscriber heads up’d me about a post at the GaveKal blog (now linked to the left) about liquidity issues in the markets, so I decided to go over to Slopecharts and update the S&P 500 w/ (post-QE) Monetary Base again. This is what I found. Anything look out of the ordinary?
Here’s the view of the Monetary Base from the St. Louis Fed, with a mark up showing a loss of ‘support’.