Long Term Update
Tomorrow is Thanksgiving and I’m pretty sure most of you have better things to do than to go hunting for setups today. So I decided to post a long term update on some our key markets instead. Let’s start with the S&P 500 and then I’ll cover gold, bonds, crude, and the Euro.
I sometimes wonder what all the bitching is about. Have you seen a more bullish chart then this one? If you simply fade out all the noise – the chatter, the dire predictions, the rumors, the Fed stories, etc. then this chart is all you really need to know about equities. The Fed keeps printing and equities keep bubbling higher. Will it end next year? The hell I know – that question has been floated since 2009 and until I see a bearish monthly I’ll do like old Turkey (a.k.a. Mr. Partridge): Well, it’s a bull market you know!
Nothing much to add on our long term chart. Nevertheless retail keeps waiting for Godot. Any day now – yes…. Sad thing is that one day (perhaps tomorrow, perhaps in a few years) they’ll end up being right – finally. And then they’ll celebrate and proclaim ‘hey, we TOLD you so!’ not considering that they’ve missed out on one of the best bull markets of their lifetime. And if anything is baked in already – it is that of lost opportunities. Fortunately we stainless steel rats saw the light in early 2010 and never looked back.
More below for my intrepid subs:
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Alright – this should give you guys enough to work with over the holidays. This will be my last post until Monday morning as the Mole has more than pulled his weight and deserves a few days off for a change. Well – who am I kidding – there’s no Thanksgiving in Spain and I’ll most likely spend the time bug fixing, hacking up some new tools, or catching up on some reading. But who’s complaining – I love what I do.
See you all next week – travel safely and don’t overdose on the tryptophan!