“…Greece is a dangerous precedent. … it remains my view that over the last few months markets have been in the process of making a broadening and important top. Markets are, by most measures, in fact teetering. …
“Technically, leadership is narrowing — a likely prelude to second-half downside volatility. … ‘The Smart People are Selling’ and China is like Humpty Dumpty sitting on a wall. And lest we forget ‘Short in May and Go Away.’
“I expect rising volatility and lower stock prices ahead, and I remain defensive in a market that seems to be finally wavering in price and appears to be on a ledge of sorts.”
— Excerpt contributed by Jason Kelly
Z-val definition and more forecasts in The Z-val Zone.
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