Money supply
(M2)
The chart below has been provided by Gordon
Harms.
Money supply growth peaked in March and has since
fallen to its lowest level in several
years.
Conclusion
The market appears to be putting in a bottom that
should hold for quite a
while.
I expect the major indices to be lower on Friday June
19 than they were on Friday June
13.
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Last week the DJIA was up a little while all of the
other major indices were down so I am calling last weeks negative forecast a
tie.
Thank you,
Mike Burk
YTD
W13/L6/T
5
Disclaimer: Mike Burk is an
employee and principal of Alpha Investment Management (Alpha) a registered
investment advisor. Charts and figures presented herein are believed to be
reliable but we cannot attest to their accuracy. Recent
(last 10-15 yrs.) data has been supplied by CSI (csidata.com), FastTrack
(fasttrack.net), Quotes Plus (qp2.com) and the Wall Street Journal
(wsj.com). Historical data is from Barron’s and ISI
price books. Â The views expressed dare provided for
information purposes only and should not be construed in any way as investment
advice. Â Furthermore, the opinions expressed may change
without notice.
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