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August 14, 2019 | Has the “Smart Money” Entered the US Share Market Yet

Martin Armstrong

Martin Arthur Armstrong is the former chairman of Princeton Economics International Ltd. He is best known for his economic predictions based on the Economic Confidence Model, which he developed.

QUESTION: Dear Armstrong,
According to Dow, a bull market has 3 phases, the final being the distribution by the smart money to the public.
You stated that retail is still not participating. Could this be why the market appears to be unable to stop going up? Because the smart money continually fail to entice the dumb to jump in?
Cheers
GF

ANSWER: So far, the “smart money” has been more foreign than domestic. We have not even remotely reached that level where the domestic “smart money” is sticking more than their toe in the water. Just look at the Dow in euros compared to US dollars. The Europeans have been making a fortune buying the dips in the US market on a currency play in addition to the market itself.

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August 14th, 2019

Posted In: Armstrong Economics

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