The Four Phases of a Cyclical Bull Market Ed Yardeni: In 1725, Antonio Vivaldi composed “The Four Seasons,” a set of four violin concertos. The sounds of each concerto resembles its respective season. So for example, “Winter” is punctuated with pizzicato notes from the high strings, suggesting icy rain. “Summer” sounds like a thunderstorm in […]
A LONG TERM QUARTERLY VIEW OF THE S&P 500 – NEARING MARKET SUPPORT
PAY ATTENTION TO CREDIT MARKETS – Divergence Has Been Reliably Warning GOAL: Measure the FAIR VALUE of the S&P 500 using fixed-income drivers. Using statistical methods on known credit and rate drivers, on a cross-asset regression of the S&P 500, it showed two weeks ago that the index was higher than its predicted value by […]
