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Overbought gets over-boughterer. The Market Ear has more.
The implied bid stays intact
The crowd is not willing to increase equity exposure in the coming days/weeks, according to JPM’s survey. This is what we have been calling the “implied bid” for the past weeks.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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