Jul 10/14 – An easy Fed does not always mean higher financial asset prices

I don’t want to get ahead of myself, but given this morning’s 19 S&P handle gap lower, it looks like the bear might have finally wandered into an area where he can’t be ignored.

I knew we were getting closer to something bad happening when earlier in the week we had the first decent down day and the jokes about buying the dip because “there is no such th…