No matter what index or ETF you are looking at, as long as it’s equity-related, they ALL look pretty much like this:
Let’s break this down………”unpack” it, as the kids say these days:
GREEN TINT – the stupid, misguided, central-bank driven final spasm of relentless buying
YELLOW TINT – the first important crack in this nine year fakery
MAGENTA TINT – the desperate clamoring of the powers that be to prop things up
GREY TINT – the next important step, which is a subject of tremendous debate
The vast majority of people – – pretty much everyone on the planet except for Tim Knight – – believes that dip we saw pays for the sins of the past ten years, and we are now going to march to new lifetime highs. Even people on this blog are saying that.
But not me. My view has, and continues to be, that the downturn resumes. And I am positioned according. To wit: