Weekly Chartology - Even David Kostin Says To Watch Out After Best September In 70 Years
David Kostin, traditionally the most optimistic person in the world after A.Joseph Cohen warns clients that the best market performance September in 70 years may be a one-time event, and that in advance of another turn in economic indicators, it may be prudent to lock in profits. "Looking ahead we see the potential for US-MAP readings to again turn negative. Our US Economists expect the two MAP inputs with the highest relevance scores (US ISM and non-farm payrolls) to weaken into year-end. If realized that outlook would be negative for US equities and consistent with our more defensive sector weights." Nonetheless, it is pretty obvious that the apocalypse is now firmly priced in. And as we all know now, the only entity that everyone is frontrunning is the Fed, becase as Tepper so well put it, stock can only go up. That said, Zero Hedge Structured Finance, in collaboration with some very secret and anonymous hedge funds, has some Arizona-desert bridge backed CDOs to sell to Mr Tepper and everyone else buying that gobbledygook.
All this week's charts that's fit to print.