That chart is telling me that we see a repeat of 2008-2009. Looks like we hit our 'high', but it is a lower high. Let's face it, what has brought that market up so hard from 2009? It sure as heck is NOT the economy, as unemployment is still crappy, the housing market is still not that robust, corporate earnings are not as hot as they used to be, and Europe is a huge mess.
What do we have coming up in 2013? Well, to start there is the Fiscal Cliff mess that MAY get some sort of finality come January, but whatever form it takes it is guaranteed to have tax increases. (I am SURE that the cap gains tax will go up) After that is the Debt Ceiling, and we know how great that went last time! You also wilkl have the first year of Obamacare, and nobody knows how bad that is going to mess things up, but we DO know that it is keeping companies from actually hiring anyone full-time. And Europe will eventually come back into the fold again as nothing but a mess.
The market is up on nothing but pure fed manipulation with all the damn QE and money printing.
Sorry to sound so bearish.
Loaded for bear with a LOT of FAZ calls. (A LOT!)
