With the possible exception of listening to someone’s dream that had just the other night, there are few things more boring than the-one-that-got-away stories, but this is important. The incredible performance of the Dow Utilities is one of the greatest setups of the ages, and what scares the holy hell out of me (which is alloyed with pangs of self-flagellation due to leave a mountain of cash I stupidly left on the table) is that we are approaching LIFETIME SUPPORT.
This is shown on both the ETF, above, and with the cash index, below.
Meaning one of two things:
- As before, the tagging of this lifetime trendline will mean the entire market is about to head higher, or;
- For the first time ever, the market is so wrecked that it will actually BREAK this lifetime trendline.
One thing is for sure: I’m a moron.
