Doom, bonds, and Elmer Kelton
Is This Wildly Overvalued Stock Market Doomed? Yes, but Maybe Not Yet -WSJ
the wsj foregoes the Dow theory, and the drift, and the seasonals, and the tendncy for the best to continue to do the best.
another great from Elmer Kelton with a million similarities of the path of mining for oil to markets:
very quietly the 30-year bond future price has hit a 32-day high. this has been insanely bullish for the S&P. in the last year for example S&P 40 days later is up 154 big points (up 80% to 100% of time) true for all back intervals thru 2001. no wonder wsj is bear.