Because the stimulus package is in limbo, the Fed announced on October 30 that it was (as near as I can tell) loosening restrictions to the so-called Main Street Loan Program for small businesses. I continue to interpret this as another of the previously unconventional Fed policies that Zweig would have addressed in his book, if he could have imagined them. At the time of publication, all the Fed did was to change the discount and fed funds rate and modify bank reserve requirements. So I have increased the Monetary Model Indicator by one. However, the monetary model is already pegged at its most bullish level.
Meanwhile, the trend obviously moved back to bullish, which is the problem with trend indicators. So the Zweig model has returned to its most bullish level.
Now I return to watching paint dry -- oops, I mean the election results.
Good luck,
Tex
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Meanwhile, the trend obviously moved back to bullish, which is the problem with trend indicators. So the Zweig model has returned to its most bullish level.
Now I return to watching paint dry -- oops, I mean the election results.
Good luck,
Tex
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