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Yet Another Market Top Indicator

Tyler Durden's picture




 

Forget the multitude of divergences from any and every sense of real fundamentals (or other market structures) that the US equity market is exhibiting; deny for just one moment the existential crisis that is inevitably drawing closer by the day as the world's central bankers/planners truly believe they have the 'final' solution; there is only one fool-proof method of knowing what is coming next. As we noted in September 2012, just 13 days before QEternity was announced, Barron's provided the 'cover' and it seems with this week's 'exuberance' that they have once again provided confirmation. If nothing else, Barron's is great at picking points where Bernanke (or Yellen) feels compelled to save the market from collapse.

 

 

(h/t @Not_Jim_Cramer)

 

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Sun, 04/21/2013 - 18:29 | 3481506 Uber Vandal
Uber Vandal's picture

The shadow under the bull on the POMO (not pogo) stick could be a hole, and not a shadow after all.......

Sun, 04/21/2013 - 18:30 | 3481511 dobermangang
dobermangang's picture

Sell in May.  Comeback in 2019.

Sun, 04/21/2013 - 19:14 | 3481640 knukles
knukles's picture

1974.  Front page headline Pensions and Investments "Are Bonds Dead?"
30 year treasury yield, 15 3/8%

Newspaper headlines have usually been a wonderful contrary indicator.

'Nuff said

Sun, 04/21/2013 - 19:33 | 3481691 Scarlett
Scarlett's picture

16 yold actress trading stocks--> shoeshine boy moment

Greenspans "stocks can't go down" --> Irvin Fisher "permanently high plateau" moment

 

wecome to 1929, boys!

Sun, 04/21/2013 - 20:19 | 3481837 max2205
max2205's picture

They forgot a zero. 16, 000

Sun, 04/21/2013 - 20:39 | 3481893 cifo
cifo's picture

"Gold mining stocks could rise by 40%" on the front page. I think I like that article.

Sun, 04/21/2013 - 21:32 | 3482122 DoChenRollingBearing
DoChenRollingBearing's picture

Well, I do not like gold stocks, despite what Andrew Bary says...  I would rather have just the gold, as there are too many risks re the stocks.

Review of Barron's -- Dated 22 April 2013

http://tinyurl.com/d49j6cg

Mon, 04/22/2013 - 03:39 | 3482837 CHX
CHX's picture

Or added one by mistake? Dow 1600 ???

Sun, 04/21/2013 - 21:11 | 3482033 deKevelioc
deKevelioc's picture

"Sell in May.  Comeback in 2019."

How about sell in May and move to the Cook Islands?

Sun, 04/21/2013 - 22:33 | 3482361 DoChenRollingBearing
DoChenRollingBearing's picture

Front-run 'em.  Sell in April.

Sun, 04/21/2013 - 22:36 | 3482367 WmMcK
WmMcK's picture

That was a winning strategy for the last 3 years.

Sun, 04/21/2013 - 22:13 | 3482291 monkeyboy
monkeyboy's picture

The real headline -

 

DOW 1,600!

Mon, 04/22/2013 - 00:04 | 3482575 The Second Rule
The Second Rule's picture

The Barron's round table has had it's share of characters over the years. Some were pretty good, like Marc Faber. Some were disastrous,  like Abby Joseph Cohen. I stopped reading Barrons and the WSJ after Murdoch took them over. The man is a snake and not to be trusted.

As far as cover (anti) bellwethers, they are historically speaking, pretty reliable. Check out some of the Newsweek, Business Week, and other financial rag covers from just prior to the dotbomb, housing, and financial bust. And also go back to just before the Stock Market crash of 1929. Some of the headlines were REAL DOOZIES!

Sun, 04/21/2013 - 22:55 | 3482424 Born-Again Bankster
Born-Again Bankster's picture

You guys don't understand.  The DOW will soar to new highs, probably 20k and precious metals will tank for the next 2-3 years.  This will allow the cash-rich balance sheets to acquire 10x the precious metal they could have when GLD was at 190.  It's all a game and to win you have to think like a crook.  For the time being, enjoy the faux ride...it's not going to stop until Obama gets near the end of his term.

Sun, 04/21/2013 - 18:32 | 3481521 scatterbrains
scatterbrains's picture

you beat me to it !

Sun, 04/21/2013 - 18:29 | 3481508 A Lunatic
A Lunatic's picture

1:1 ratio with the annual insurance premium under Obama care. Bullish...........

Sun, 04/21/2013 - 19:09 | 3481626 Croesus
Croesus's picture

Yeah, that bull is going to bounce higher....right into the Bernank's helicopter blades.

Sun, 04/21/2013 - 18:32 | 3481512 EvlTheCat
EvlTheCat's picture

What a bunch of shit!  In other news this is the only news website I can get to tonight.

Sun, 04/21/2013 - 19:16 | 3481644 knukles
knukles's picture

Really?...

Da duh da duh da duh...
Government conspiracy to twist your mind into marshmallow Jello

Sun, 04/21/2013 - 19:57 | 3481771 EvlTheCat
EvlTheCat's picture

I don't believe in the government, so that can't be it.

No, I just realized the 7 pages of porn I have open, updating and streaming may have something to do with it.  Girls in gold boots with 1oz AGE nipple pasties and gold chain mail panties wiggling what the good lord gave them.  Each for Silver, copper, platinum, rhodium, palladium.

Just appreciating barbarous relics.

Sun, 04/21/2013 - 22:29 | 3482350 toys for tits
toys for tits's picture

Thanks for making me google that.  Still couldn't find it but did find this.

Sun, 04/21/2013 - 18:29 | 3481514 LeisureSmith
LeisureSmith's picture

That bull is gonna look pretty silly when his hooves slip. 

Sun, 04/21/2013 - 18:32 | 3481524 toys for tits
toys for tits's picture

If they had drawn the bull on a tricycle, that would have been ridiculous.

Sun, 04/21/2013 - 18:31 | 3481515 HD
HD's picture

"Barron's is great at picking points where Bernanke (or Yellen) feels compelled to save the market from collapse."

Honestly, how can the Fed save the day this time? 250 a month in POMO?  500?

 

Sun, 04/21/2013 - 19:13 | 3481559 francis_sawyer
francis_sawyer's picture

Ummm... YES... I'll cya in a couple of months to confirm this reply... [IOW ~ QE 2 infinity... Whocoodanode?]...

Sun, 04/21/2013 - 18:31 | 3481517 scatterbrains
scatterbrains's picture

If you look closely the Bull on the Pogo... I mean Pomo stick is actually on a downward trajectory... and notice they omit the surface area where his stick is about to land.  I'm guessing quick sand.. but how to decipher the 16000 ?

Sun, 04/21/2013 - 18:34 | 3481518 DoChenRollingBearing
DoChenRollingBearing's picture

Yes...

In 15 minutes I start doing my Review this weekend of Barron's.  There are TWO other places in Barron's this weekend where the writers are more bullish than I think is warranted.  Indeed, a bad sign...

EDIT:

On the other hand, the S&P 500 is up some 6% + since last September (last bullish Barron's cover)...

Sun, 04/21/2013 - 18:32 | 3481520 The Invisible Foot
The Invisible Foot's picture

Top left says "Don't look now but deflation looms" HA.

Sun, 04/21/2013 - 18:35 | 3481528 toys for tits
toys for tits's picture

"Gold mining stocks could rise by 40%"

Sun, 04/21/2013 - 18:52 | 3481573 francis_sawyer
francis_sawyer's picture

Fucking 'gold mining stocks' are the redheaded stepchild in this event...

~~~

The whole purpose for the sabotage on PAPER GOLD prices is to get marginal [& perhaps NOT SO 'marginal], goldminers to eat their hats on the oppressive power of JOOBUCK printers to wipe them out & force them to abandon their efforts on the cheap...

When the fuck are all you  joo sychophants gonna learn?

Sun, 04/21/2013 - 19:24 | 3481674 negative rates
negative rates's picture

Probably never, by the looks of it.

Sun, 04/21/2013 - 19:57 | 3481750 rogeliokh
rogeliokh's picture

"Fucking 'gold mining stocks' are the redheaded stepchild in this event..."

What is your problem, sycophant punk? Gold miners will do what they always do - mine G-O-L-D.

Perhaps they are out of favor in the next (i don't know) week or two, but check back 2008...

Many of them will turn out to be 10x baggers + did you ever saw 5+% Dividends back then?

Miners definitely, in the play right now, unless dicks like you, decide to short 10 years lows, good luck on that.

Sun, 04/21/2013 - 19:19 | 3481661 Kirk2NCC1701
Kirk2NCC1701's picture

The only way you could get me to buy Jr stock is with OPM. Unless you have insider info from TPTB, you are literally gambling.

Expect industry consolidation, per the Plan.

Sun, 04/21/2013 - 19:28 | 3481684 francis_sawyer
francis_sawyer's picture

Industry consolidation = the jew bankers keep the paper price on Au & Ag down long enough to either put them out of business... OR, if necessary, have everything consolidated into JEW owned hands [or 'NATIONALIZED' ~ which is the SAME FUCKING THING]...

Welcome to the FREE JEW MARKET [in a JOOBUCK paper collapse] world...

Sun, 04/21/2013 - 18:32 | 3481523 Yen Cross
Yen Cross's picture

     Janet Yellen for MOAR QE. Where's 'Dog Breath Krugman'? chipping corners off his Nobel Piece prize to buy a loaf of bread...

Sun, 04/21/2013 - 19:42 | 3481712 knukles
knukles's picture

Knukles:  Hi Paul, welcome for joining us today on Knukie's Idiosyncratic View of Tomorrow Land, Today.

Paul Krugman:  Thank you Knukles.  But why may I ask do you call me names on ZeroHedge, it hurts my feelings and... (interrupted)

Knuks:  Paul, if I may call you Paul, even though my producers suggested I call you CrazyKrug... (interrupted)

PK:  That's just rude, I never called you any name, nor participated in ad homenien attacks on you, you fuclking asshole useless piece of goat turd.

K: Paul, our viewers would like to know something about your Nobel Prize.

PK:  Yes, I was awarded the Nobel Prize for Economics by a whole bunch of amazingly smart people for my outstanding contributions to the science of Economics.

K:  Errors of fact aside, I understand from your manservant and maid that you prominently display your Medal, your gold Medal, on the fireplace of your living room just below your self portrait and (interrupted)

PK  (Shouting) What the fugl are you talking about slime-ball!  How dare you ask my indentured unregistered Democratic servants any questions about my home or personal behavior which is none of your business and an invasion of my privacy.  You're a spiteful person with your ad homeien attacks on my person, you sleazy character, just as you are on ZH when you try to torment me!

K:  Well there you never answer my questions so now, maybe you will.  What we are interested in is why you've not sold your gold medal since you believe it to be a barbarous relic?

PK:  Because it has sentimental value and I like to own it.  And its shiny.  And they're hard to get.  Scarce.  Only a few around, finite supply, you know. And I deserved to own it because then people know I'm smart because I got it.

K:  But that's why people own gold, Paul.  But I suppose it reinforces the illusion you've accomplished something?  Why do you need it for an ego boosting proposition.

PK:  It has nothing to do with boosting my ego.  it's all amatter of value, percieved value.  And I can always pawn it if or sell it if I don't want it, anyway, since really is just a barbarous relic.

K:  Did you know it is just gold plated Tungsten?

PK  (yelling complete gibberish)

K: Thank you for being our guest tonight.  And next week, we'll have a retrospective on the Many Career Successes of Tim Geithner with Tim Giethner.  Good night!

Sun, 04/21/2013 - 20:00 | 3481779 Yen Cross
Yen Cross's picture

PK: Knuckes, you messed up my evil plan.

K: isn't a million dollar$ metal (coin) enough to start your own 'Banana republic'?

PK: I need some extra rope, gold braided/

 

 

 

Sun, 04/21/2013 - 23:22 | 3482486 css1971
css1971's picture

Nobel created all of the Nobel prizes in his will... But he didn't create the Nobel prize for economics.

More correctly it's called the "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel" and was sponsored after his death by the Sveriges Riksbank. Which as it happens is the world's first central bank. Presumably Nobel didn't think economics was worthy of a prize and the Nobel foundation had to essentially be bribed in perpetuity to add the economics prize.

Like much associated with banking, the Nobel prize for economics is not what it seems.

Sun, 04/21/2013 - 18:36 | 3481533 CURWAR2012
CURWAR2012's picture

The case for a bull market has of course run up against:

Euro depression   China Recession   US depression  Deflation 

Gold suppression  Obamacare initiation  Tax progression

Terrorist suggestion and reality

 

Sun, 04/21/2013 - 21:01 | 3482005 DeadFred
DeadFred's picture

And in the other corner weighing in at 85 Billion/month is Bennie Moarbucks Bernanke, please shake hands and come out fighting.

I'm betting Bennie is a paper tiger (pun intended) and gets whupped but it remains to be seen how long the fight will last or truthfully what the outcome of this experiment will be.

Sun, 04/21/2013 - 18:46 | 3481554 Frastric
Frastric's picture

This bull is so happy he never looked where he was going and fell down a pothole. Despite his valiant efforts and all the hopium he took, he became quickly acquainted with gravity again. Falling down the rabbit hole our bull met the bear -- who had a big grin on his mouth -- and bear was ever so cheered to see bull again, indeed he welcomes our bull with big flashing teeth and claws spread out in what would be the mother of bear hugs...

Sorry I'm high on oven-cleaner right now...

Sun, 04/21/2013 - 18:50 | 3481565 QE49er
QE49er's picture
So you've not yet lit the last four boilers?   No, I don't see the need. We are making excellent time. The press knows the size of Titanic. Now I want them to marvel at her speed. We must give them something new to print! This maiden voyage of Titanic must make headlines! Mr. Ismay, I would prefer not to push the engines until they've been properly run in. Of course, I'm just a passenger. I leave it to your good offices to decide what's best. But what a glorious end to your final crossing if we were to get to New York on Tuesday night and surprise them all! Make the morning papers. Retire with a bang, eh E.J.? [Smith nods reluctantly] Good man.
Sun, 04/21/2013 - 18:53 | 3481575 ebworthen
ebworthen's picture

AAPL back to $700!

The iT.V. and the iWatch will turn everything around!

Economy crashing, stawks ramping!  Buy stawks!  Buy!  Buy!  Buy!

Sun, 04/21/2013 - 19:05 | 3481610 Yen Cross
Yen Cross's picture

  Not without MOMO ebbie. The markets are a Fed induced circle jerk. No players, outside the usual subjects. Everyone's tapped out or waiting to buy armageddon @ pennies post 84 , on the XAU.

Sun, 04/21/2013 - 19:08 | 3481620 HD
HD's picture

Sums it up nicely.

Sun, 04/21/2013 - 19:46 | 3481727 Kirk2NCC1701
Kirk2NCC1701's picture

Your funny sarcasm aside, one should be aware that one can -- and some will -- make moar money on the artificial Bullcrap market, that there are other and safer options.

Not all revenue streams come or need come from paper/tertiary assets. It should not be a medium of wealth storage, unless you're prepared to watch that portion of your total assets 'crash & burn'.

Sun, 04/21/2013 - 18:59 | 3481593 q99x2
q99x2's picture

At this rate, with all the NWO wars going on and nobody left to milk, the Rothschilds and Rockefellers won't have a pot to piss in or a window to throw it out of. This year we will see the scum turning agaist one another. It is going to be a good year.

Sun, 04/21/2013 - 18:59 | 3481598 FischerBlack
FischerBlack's picture

Fuck it, dude. Clicking on the Ukrainian Singles ad in 3...2...1...

Sun, 04/21/2013 - 19:07 | 3481613 RSBriggs
RSBriggs's picture

I must be doing something wrong.  I just get Tazo Green Tea ads and 250 business cards for $9.99 via FedEx Office....

Sun, 04/21/2013 - 21:06 | 3482021 DeadFred
DeadFred's picture

Sad for you, but of course clicking on the ads is only for the purpose of supporting ZH with click through revenue. I wonder what Tyler would make if you actually bought one of the Ukrainians...

Sun, 04/21/2013 - 19:07 | 3481618 Dr. Engali
Dr. Engali's picture

Since the Bernank is skipping Jackson hole I'm guessing that Baron's won't be picking the point where Benny boy save the system.

Sun, 04/21/2013 - 19:13 | 3481637 Croesus
Croesus's picture

@ Doc Engali:

Bernank is skipping Jackson Hole because he'll be busy at Black Hole....trying to rescue the Bull that just fell into it.

Sun, 04/21/2013 - 19:13 | 3481638 Yen Cross
Yen Cross's picture

   Rest assured Doc.. 'Chair Satan' has his ' i-Shit' with him, @ Camp David<>

Sun, 04/21/2013 - 19:12 | 3481624 Hongcha
Hongcha's picture

Of course they are going to stick save it.  Get ready to go long if you are quick and able.  Trade it like the casino it is.

I despise the centrally planned market but they are clearly going to save it because it is the Messiah's and the Bearded Clam's only salient, manifest talking point in favor of any form of success with the economy; as hollow as those words ring, given what we know.

The One and the Bearded Clam have made their true constituents very wealthy; it has been a very, verey good decade for their constituents.

Forget shorting it, you will just get chopped up.

Sun, 04/21/2013 - 19:13 | 3481634 Dre4dwolf
Dre4dwolf's picture

You know why a crash is coming?

Because people are not buying stocks based on the past/future or expected performance of these companies.

People are buying stocks, because they see other people buying stocks.

And I would add, its not even people buying stocks, its banks with soo much counterfeit money on their hands they have no idea where to stuff it all.

 

When people "buy things" because "other people are buying them", that is a "trendy phase" and "trendy phases" get bit-coined.

 

Fundementals will always correct a market, all the market needs to correct is somewhere else "attractive and new and shiny" for people to stuff their currency.

 

The equity market is a bubble, and its not even a really good one at that, because when you adjust for inflation its flat.

 

Any dumb-ass can simply increase numbers by adding zeros.

The really challange is actually producing wealth (goods and services) that people want and need and that just isn't happening yet in the real economy.

 

 The stock market is about as valuable as a stack of pokemon cards right now, sure they were worth something once, but soon they will be worth nothing.


Sun, 04/21/2013 - 19:12 | 3481635 Seorse Gorog fr...
Seorse Gorog from that Quantum Entanglement Fund. alright_.-'s picture

A News Corporation Company

Dow Jones

Sun, 04/21/2013 - 19:29 | 3481646 Hongcha
Hongcha's picture

You are making the classic mistake of conflating the economy with the stock market.

The U.S. economy is Highway 99 deadsville; Allentown PA all over, everywhere except on the coasts.  The U.S. economy is moribund, walking dead.

The U.S. stock market, otoh, is on very powerful life support.

They correct it 5% when GS and the U.S. Senate is long puts; then run it back up.  It will not act natural, i.e. as it should.  It's rigged to the tits.  Got that yet?

Sun, 04/21/2013 - 19:54 | 3481760 razorthin
razorthin's picture

You, Ma'am, are a top calling troll and don't even know it.

Mon, 04/22/2013 - 01:41 | 3482695 MythicalFish
MythicalFish's picture

Ma'am has a bout of 'sellers remorse' after shorting the hell out of ES in March. Don't miss the real top now folks.

Sun, 04/21/2013 - 20:42 | 3481903 moneybots
moneybots's picture

All parabolics fail.  A parabolic can be drawn on this market chart.

 

Gold went parabolic into its 1,900  high.  People are now stunned that the bottom has fallen out of the gold market.

 

The market chooses to ignore what it chooses to ignore for however long it chooses to ignore it.  Then it plays a game of catch up.  The market is supposed to be a leading indicator of 6 to 9 months.  Just 2 months before the 2008 recession, the market finally decided to listen to what the economy was telling it.

If one looks at IBD market charts one can count the distribution days.

 

Mon, 04/22/2013 - 01:44 | 3482698 MythicalFish
MythicalFish's picture

i don't see it on SPX the parabolic is in short vix/vxx and its gonna take momma down with it..

Sun, 04/21/2013 - 19:30 | 3481694 jtz5
jtz5's picture

I nailed this from a few days ago as to the outcome of Boston...not invading another country, but increased surveillance EVERYWHERE.

Authorities are debating whether or not video surveillance should be increased in the United States due to their importance in uncovering the suspects of the Boston Marathon bombings. Lawmakers are in talks about the importance of increasing surveillance and how CCTV (close-circuit television) cameras will be able to increase security and protect citizens as well as help authorities track down suspects.

Sun, 04/21/2013 - 22:54 | 3482414 css1971
css1971's picture

Sure protected the Boston marathon goers. Like the police, CCTV doesn't protect. It just helps you clean up the mess afterwards.

If you want protection you have to do that for yourself.

Mon, 04/22/2013 - 01:45 | 3482703 MythicalFish
MythicalFish's picture

Moar iphones, bitchez!

Sun, 04/21/2013 - 19:53 | 3481758 bdub2
bdub2's picture

Please tell me this is made up.

Sun, 04/21/2013 - 19:54 | 3481761 Tombstone
Tombstone's picture

No crash until the NAZ returns to 5000+ or makes a double top.  Benny is going to find out that his QEternity is going to require steroids and then some.  He will not allow any major crash; thus he will have to ramp up his money making mojo until all circuits finally blow (that will never happen since his machinery is powered by "green" energy). 

The worry won't be if and when he will pull back on QE, but that he isn't gearing it up fast enough to hold up the rickety ole financial system.  Remember, socialists/socialism never fails otherwise the idiot voters would have never voted for more of it... Besides, there will be tons of welfare to fall back on if the markets ever crash...

 

Sun, 04/21/2013 - 20:00 | 3481782 ArmyofOne
ArmyofOne's picture

BUY GM...opps!

Sun, 04/21/2013 - 20:02 | 3481785 moneybots
moneybots's picture

"Forget shorting it, you will just get chopped up."

 

If you jump in at the last moment, you will.

Sun, 04/21/2013 - 20:02 | 3481787 yogibear
yogibear's picture

My, Buy, Buy, Buy!

Jeremy Siegel's  bull porn orgasim.

Sun, 04/21/2013 - 20:06 | 3481796 DangerClams
DangerClams's picture

That bull has no balls.  Therefore, it's not a bull.

All the bulls I know have balls, man.  Huge ones.  Clankers.

Sun, 04/21/2013 - 20:10 | 3481801 BullyBearish
BullyBearish's picture

We've seen this movie before.  Now, as Spring Swoon 3 hits the theaters, the dollar rises giving the Euro a well-deserved break and the EU markets a boost, our market corrects, the Treasury gets many new non-FED BOND buyers (safe haven trade), rates move down to re-energize the bankster's mortgage money-making machine, commodities are trashed, and the maximum amount of money is extracted from the "late-to-the-party" investors.  Then, in a couple of months when everyone is waiting for another big drop based on absolutely TERRIBLE DEFLATIONARLY news, Benny Boy rides in with his fellow central banksters who announce Double-Triple QE and it's off to the races again!! 

Sun, 04/21/2013 - 20:23 | 3481843 yogibear
yogibear's picture

Fully expect a double or more per month on QE. Maybe $170 billion/month or $200 billion/month and teh resultant US dollar crash. The Fed's final hurrah..

Sun, 04/21/2013 - 20:18 | 3481834 moneybots
moneybots's picture

The headline DOW 16,000 by the middle of next year, doesn't bother to mention the harrowing ride down before the bounce up to get up there.

When Greenspan tells people to buy stocks, who is he seeking to benefit?  It is not the people buying stocks after his pronouncement.  It is to benefit his insider friends who need bag holders to distribute to.  Greenspan is treating the public as Goldman treats its muppets.

Sun, 04/21/2013 - 20:52 | 3481962 jim249
jim249's picture

I still remember a few years ago when Barrons had a pic of a roller coaster representing the housing market showing it about to take off again. Man were they wrong on that one!

Sun, 04/21/2013 - 20:59 | 3481982 yogibear
yogibear's picture

As said in the previous comments count on Bubble Bernanek, Evans, Dudley and Yellen to double or triple on QE.

$170 billion to over $200 billion/month.

The Fed buying everything with print money.

Krugman's dream. 

Fed controlling the markets with overwhelming QE.  Crashing the US dollar.

Sun, 04/21/2013 - 21:09 | 3482030 Croesus
Croesus's picture

 

I long for the day, when someone takes that Nobel Prize, and shoves it up Krugman's ass.

 

 

Sun, 04/21/2013 - 21:09 | 3482019 Freddie
Freddie's picture

Alan Abelson - Barrons

Henry Blodgett - Business Insider

Vote who is the bigger douchebag (above).

LOL!  This F**ks Up - the Oba shills and govt spooks who junk me.   FU!

Mon, 04/22/2013 - 00:24 | 3482609 WTF_247
WTF_247's picture

Futures are up 10.  I do not think we are in a top.  There is next to no selling in most names - they back off becuase of the index but have no trouble pushing higher.  We are almost 30 pts higher than the low on Thurs already - that is 2%.  If there was any resistance at all you would not get that much of a push.  To boot its always on low volume.  

3 years ago and back a low volume rally would elicit short sellers to take it to town.  It would not entice institutional buying support - yet now that is the norm.  There is yet any fund to challenge the bullshit that is going on.  The algos are mostly geared toward running  upside stops - you can see it with a volume study on 1 min charts.  They repeatedly put 3-4k @ market to jam the market and then bid to hold it.  This is almost always on the upside.

Mon, 04/22/2013 - 00:27 | 3482613 polo007
polo007's picture

According to RBC Capital Markets:

http://www.scribd.com/doc/137274290/Chart-Essentials-for-the-Week-RBC-Capital-Markets

S&P 500

- The S&P’s short-term momentum data is very oversold, and a recovery bounce appears to be getting under way from support near the March–April range lows at 1538.

- Last Monday, the S&P fell below the uptrend line from the November lows and broke down from a multi-month “rising wedge” pattern.

- This pattern breakdown typically signals the potential for a sharp decline, and, in this case, targets the November 2012 lows as a possible objective.

Mon, 04/22/2013 - 02:13 | 3482760 dunce
dunce's picture

Barons has me on their mailing list and is trying to sell me a subscription, glad i threw their offer away.

Mon, 04/22/2013 - 02:33 | 3482787 Clowns on Acid
Clowns on Acid's picture

So.... either Bernanke or Yellen (Yellen is surle Obama's pick for Printer in Chief) will either add more POMO or... the Dow corrects 10%.

And the VIX is staying pinned at its bottom ?

Mon, 04/22/2013 - 07:48 | 3483064 orangegeek
orangegeek's picture

Yep - the MSM pump to vacuum up all the lemmings and their cash at the top only to see it disappear in a few weeks.

 

Happy times.

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