T Theory update available for equities and hi-yield bonds, from Terry Laundry

Readers will want to check out Terry Laundry's T Theory update available at his T Theory website - this time, he's not only updated his S&P 500 chart but also provided one for hi-yield bonds. He even included information on a confidence indicator as well! And you'll want to set aside a couple of minutes to listen to his audio commentary posted there as well.

He actually posted his update yesterday, so those who listened in were already aware that he was looking for a drop to test the 55-day moving average at 890 - the SPX almost got there - so I gather it's what happens from there that really counts. But I don't want to speak for him; you can get the full information on his work, at his site (link above).

I've mentioned recently that I've got some reservations about his projections of greater, more bullish potential for the equities markets, based upon my perceptions about the fundamental economic context and the bursting of the credit/leverage bubble. But his work is objective and very analytical, and that's why I like to make sure I keep up with what he's seeing.