Third Time Not the Charm

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OK, I’ll say it: this market is officially pissing me off. I know, I know. “Trade what you see before you.” I won’t comment on that advice. I’ll simply point out the following very simple facts:

The Internet bubble that peaked in early 2000 was clean and simple. The break happened, it retraced, and it fell for years afterward:

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Likewise, the housing bubble that peaked in the autumn of 2007 broke, retraced, and fell for years afterward. Clean. Simple. Nice.

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The sovereign debt bubble was similarly clean and straightforward. The hard breaks in late January/early February of this year looked like they were powerful enough to ram through support and get the long-awaited bear market truly going.

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Instead, since February 11th, the bears have had a three foot iron rebar shoved right up their rectum, which continued to this very day, in which there are new lifetime highs across virtually every index in existence.

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I am seeing old-time stalwarts in ZeroHedge completely throwing in the towel at this point. Elliott Wave turned bullish months ago, and I guess Tyler (and, frankly, me) are going to be the last ones to surrender.

Suffice it to say that the long-term charts made a massive bear market look inevitable, but it legitimately seems that the central bankers across the globe have completely aborted reality. Well-played, Janet.