Critical intelligence before the U.S. market opens
by Shawn Langlois
While yet-to-be-named bankers, corporate bosses and — who knows? — presidential candidates chew their fingernails down to nubs, and the 99% fantasize about the potential of the “Panama Papers” (more on that below), traders are more focused on a stock market that, for now, seems to be bucking the odds.
“Let’s see what’s real,” says blogger NorthmanTrader, before launching into his head-scratching assessment of where things stand in this market.
He’s certainly not alone in his confusion. “Despite all the giddiness, I see a group of canaries in the coal mine here,” he wrote, “and they are singing a concerted song that’s taking on an ever more disturbing pitch.”