Massively overbought market


The Market Ear with more.

We got that July 2023 feeling

The perceived NASDAQ bull has been stronger than the actual realized over the past weeks. We have basically been consolidating at highs. We saw a similar development last summer. We see many other similarities between then and now. A break below the trend-line risks triggering similar selling as we saw last summer.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe
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.