When's the Next Meaningful Selloff?
Equity indices may be selling off after 3 consecutive rising days, but this weeks shrugging of poor data by equities cannot be ignored. Equities resilience to pervasively negative economic data (US and abroad) is taking a life of its own. 9-month lows in the US June leading economic indicators index, 8-month lows in US existing home sales and double digit negative reading in the June Philly Fed indexall on the back of the 3rd consecutive monthly decline in US retail sales should be sufficiently negative for equities. Here is a look at he indicators to watch: http://www.cityindex.co.uk/market-analysis/ashraf-laidi-blog.aspx
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