Hartnett: Why The Next Fed Chair Will Launch Yield Curve Control
One week after Michael Hartnett reported that most of Bank of America's Sell signals had been triggered, to wit...
BofA FMS Cash Rule: cash as % AUM in FMS 3.9% = sell signal…average SPX loss in following most from 15 "sell" signals since 2011 = 2%;
BofA Global Breadth Rule: 64% of MSCI ACWI equity indices trading >50/200-day moving averages, down from 80% last, below 88% sell signal level
BofA Global Flow Trading Rule: past 4 weeks global equity/HY bond inflows = 0.9% of AUM, down from 1.0% last week (triggered sell signal).
... the market continues its relentless meltup levitation as it has every single July for the past decade 11 years...