We are at the area AGAIN that had previously marked the mkt top, which is 30% ABOVE the 2000 relationship, then said bull mkt high from 20 yrs of rally.
http://stockcharts.com/def/servlet/SC.web?c=$SPX:$VIX,uu[w,a]wallyiay[pc20!c50!f][vc60][iut!Ub14!Ua12,26,9]&pref=G *NOTICE HOW macd IS WEAKER STILL*
I hold this relationship in HIGH REGARD. You can observe how the ratio CALLED the 2002 low, do you not? You could have bought wth both fists then could you not? the fact we STILL reside 30% above the 2000 high relationship is PROOF enough of the excessive ill placed bullishness seemingly ingrained, unending.
When Greenspan exits, so will the bull, you heard it here first. Enjoy the turkey, we must be sure we don't end up on the menu.....They say WAGE GROWTH will sustain spending???!!!! They say consumer in great shape, that debt is no problem, that no savings is a non issue. They say there is no need for M3 data.
There are SO MANY DIVERGING relationships as dynamic as the one above, none point to beginning of anything wonderful
Duratek (my elbow tendanitus is keeping this brief)
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