Last Friday, Larry Kudlow made an embarrassing video in front of the White House where he waved his arms around and screeched about how great the economy was. If any of us had any sense (I sure don’t) that would have been the biggest flashing RED SELL signal in all human history. Just devastatingly moronic.
In retrospect, the follow-through was all too predictable. History will not remember this moment as prescient on the part of Mr. Powder My Nose.
For the first time since the start of this YEAR, the S&P is below the 50-day EMA.