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During the last week, the bond complex generally consolidated or ticked higher. Global equities also gained on positive economic data.
Equities appear overpriced given the overall economic situation. The U.S. is making gains on the economic front, but the recovery is not evenly distributed. A number of industries face an uncertain future as dislocations continue. Will the dislocations be enough to drag the economy downward, or will the economy adapt and overcome the challenges quickly enough to justify recent equity prices?
The bullish percentage indices have been deprecated from the notebook. No strategies were using the data. Custom bullish percentage indices can be found at stockcharts.com. If anyone out there was using the indices, drop me a note and I would consider adding them back to the notebook.
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Happy 4th of July Weekend!
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