At the risk of seeming like I'm putting together another post that is merely grasping at a straw – any straw – to prove the market is going to turn down Real Soon Now, I offer the following:

Bonds, as measured by TLT, have been doing a pretty good job bouncing off the Fibonacci fans I've drawn. The last time they bounced twice off a supporting line, they turned around and rallied heartily. We are, I submit to you, ladies and gentlemen, completeing a similar double bottom right now.

If bonds do zoom higher (and I'm well aware as to how many bond bears that are, and how convincing their narrative is……….), equities will likely turn down. The last time we bounced off such a double bottom is highlighted below in green. As always, only time will tell.

If you listen to most talking heads today you can’t help notice it
seems whomever is in charge of writing for their teleprompters has just
replaced Google for Apple in the story line. It would seem they’ve
rehashed near word for word last years “in-depth analysis” and let the
prompter role as to explain why Google is today’s darling of Wall
Street. So much so it’s not near comical: It is comical.

Personally I can no longer listen to most market mavens the financial
media cabals are currently parading across both screen and print to
give their synopsis on why the fundamentals of this or that are sound
and, will result in the land of milk and honey for years to come.

For me, if the term fundamental isn’t used in the context to explain
these markets as fundamentally flawed. i.e., Adulterated by the
interventionist money pumping programs underway via the Federal Reserve I turn it off because here’s my analysis: “Take away the Fed – you’ve got jack.” End of analysis. Period.

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