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 Barronâ??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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