Tuesday, March 31, 2015

End of Quarter: Hotel Californication Update

What could go wrong?
The three biggest sources of liquidity: The Fed, Corporate Buybacks, and Equity Fund flows ($-44bn) are now neutral or negative for the first time in 3 years. No surprise, Skynet broke today on moderate volume.

"The precipitous fall in earnings expectations for the first quarter has been 'stunning', and the post-March picture is not looking good. Right now we're looking at down almost 3 percent [year over year]"

12 week money flow




Growth stocks rolled over hard last week
Growth : Value Ratio
Skip 2007, go straight to 2008:


Speaking of 2008

Nasdaq internals are following the same pattern as 2007-2008:


Dow
Stocks above 200 day moving average
I call this "crazy shit":


Momentum:


Price / Volume
4 week moving average

No, we've never seen this before:


It seems like it could go on forever. But it's not.