SPDR S&P 500 (SPY)

[Two-timer]

Fox, I agree with your analysis (my sell signal came in at 10:45 yesterday). We may test the highs, however, before the drop commences(?). Here's a little ditty that says a lot. Two

Smoke And Mirrors Everywhere
Submitted by Tyler Durden on 10/22/2009 08:48 -0500

The S&P 500 Index is now selling at 26 times operating earnings. That's more expensive than at the bull market top in 2007. Are things really better than at the five-year bull market top in 2007? What about the trillions of dollars of bad assets still on the books of financial institutions around the world? Most analysts agree that the market is over valued. Yet they have to participate because the market is going up. They hope to be the first ones out of the exit when the plug is pulled. Do you think you can do that