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Green Book October 2019

The Last “Spoos” To Drop?

For many months, we’ve argued that global stocks have been tracing out a major cyclical top. But the global stock market “tape” has narrowed so much that it’s really only the U.S. blue chips that are left to do the tracing. “Spoos” (S&P 500 index futures) might well be the last shoe to drop.

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