LIQUIDITY NEWS. NICOLE ELLIOTT ON CNBC ... VERY BEARISH!
[Latest Endogenous Liquidity Index: -64.2%; Latest Global Dollar Liquidity measure: +39.6%]
Although I understand what a double bottom is, I am not a big fan of technical analysis. Having said that, there are some technicians I listen to. One is Nicole Elliott, of Mizuho Corporate Bank in London. Really impressive! Nicole is very bearish on risky assets right now. She's been consistently right on euro/yen and on the S&P500, and she sees yet more downside in the coming months. Today on CNBC Europe (I can' t find the video link), she said something that any endogenous liquidity watcher would immediately understand: "There's no money out there; people are desperate to sell all peripheral assets". [Mizuho Technical Analysis]