Bull Market or Bull?

*(repost ofprvious link)http://www.contraryinvestor.com/mo.htm "Outer Limits" Pictures are worth a thousand words and here charts are worth more than I could say.One cannot say where the outer limits are, but we can easily say we have arrived at a place we have never been before.Forget timing for a moment, put it aside.

Some of you are familiar with the Kodratief cycle, it is not mythical, it is real, the Kondrtief WINTER has been long coming, K-WINTER brings untold pain and economic crisis with it.The end of the good part of that cycle ends when CREDIT MARKET DEBT stops expanding.

AS my link points out, WHAT will drive consumer spending when we have near ZERO savings? ONLY MORE DEBT, don't look to refi's and home equity gains to fuel this spending.We now use foreign nations savings to be gluttons, and it has reached levels never before seen by a modern nation.

Will the spending come from gains in wages? Any of you gotten a raise lately?ALL the while $50 OIL goes unnoticed? and its affects? felt throughout economy.We know the Gov manipulates inflation data and BLOATS the GDP with Hedonic pricing.

These things help to bring new understanding to the next chart and WHY the VIX VXO seem not to be working, it is not because itis closely watched, it IS because we are there or
near the Outer Limits.

http://tinyurl.com/3wkcp SPX/VXO ratio(I use VXO because it better relatesto pre VIX data)http://tinyurl.com/5ey26 VXO 10 yr (near crash warning levels)http://tinyurl.com/4ukeo New lows here to VIXhttp://tinyurl.com/64odd LASTLY the NDX VXN! LOOK at how these inidcators are doing the OOPOSITE of what they did during the BULL run to 2000 not rising amidst greater uncertainty climbing the back of the wall of VXO and VXN. Surely it looks like my timing stinks,but I stick to my assertion great caution is warranted.

D