Today King World News is pleased to share a fantastic piece which address the all-important question: Did we just witness one of the greatest sell signals in history? This piece also includes a key illustration that all KWN readers around the world must see.
Jason Goepfert at SentimenTrader: “The art market continues to be in the throes of euphoria. An auction this week scored the 2nd-largest sale in history, second only to one from May of this year…
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SentimenTrader continues: “Updating our sum of large art sales over the past year, buyers have once again surpassed all previous records, even when adjusting for inflation. The stock of auction house Sotheby’s tends to peak ahead of the art market (which seems to have happened again), and when it declines as much as it has in recent months, it has been a minor warning sign for the broader stock market (see chart below).
This was a great tip-off of warning risk appetites before (or as) stocks peaked in 1990, 2000 and 2007. It was a miserable failure in 1995 and 2012. The runaway art market has been a concern for months and continues to be so, especially if stocks can’t turn higher like they did in ’95 and ’12.”
King World News note: The illustrations of the euphoria in the art market that Jason referred to above were published on KWN on May 15th of this year. That was right at the peak of the global stock markets. SentimenTrader was warning that the euphoria in the art market spelled trouble for stocks and then all hell broke loose on the downside, particularly in China and emerging stock markets (see illustrations below).
***This commentary and charts are just a portion of one of the latest fantastic reports. To try a free 14-day trial of the internationally acclaimed work that Jason Goepfert produces at SentimenTrader simply CLICK HERE.
***ALSO JUST RELEASED: We Are Now Witnessing Unprecedented Action In The War In The Silver Market CLICK HERE.
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