Earlier today, the team at Waverly Advisors gave this presentation giving a technical explanation of what's going on in the markets and the economy.
Their three key macro themes are summarized in this statement:
China can't save the world, the EU can't fix what is broken without feeling much more pain and the US looks like the least dysfunctional of the primary wealthy economies (if only by a very modest margin).
Among other things, they see a "clear bear flag," for U.S. equities which "offers the possibility of a sharp decline."
NOTE: Thanks to Waverly Advisors for permission to run this presentation. Check them out here
See the rest of the story at Business Insider
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