Alas, Incredible Charts pro only goes back to 1988 but let's wait and see if your pattern repeats. Markets going as they are generally end up confused. Any news contrary to the mood can cause quite a drop over succeeding weeks.
I read Shane Oliver say that this last correction could be all there is. He didn't infer that it was but there will be many who charge long into this mele. My indicators are mostly negative which is very hard for a trader to suck up in a euphoric market like this.
Cheap interest rates and an abundance of credit are causing a very interesting situation. Tonight I thought 'what would I do if I were a bull?'......and the markets are doing just that.
There is a chance that we are on the cusp of another massive step up but the economics world over just do not match. An absolute mismatch.The reality is much sadder than the happiness markets are showing.
Therefore I have to assume that when this market levels out it will, at some point, crash.
The distinction between bulls and bears is becoming quite unambiguous. What's stronger, euphoria or despair?
