Massive Divergences as the S&P 500 Hits Record High

Weak breadth provides non-confirmation to new S&P 500 high… not to mention the lack of fundamental support

Highlights

• Chinese deflation overlooked by global investors

• Weak breadth provides non-confirmation to new S&P 500 high…

• … not to mention the lack of fundamental support

• The “last mile” of inflation may not be as difficult as many think