I’ll admit it, right here and now. I just went through all the index charts, and almost every single one is bullish. And bullish in a kind of “it’ll just keep going up a couple of percent, week after week, until Something Big Changes” kind of way. It’s not exactly exhilarating for a fellow like me to see this, but there you have it. As I look at these eight charts, there isn’t a single bearish thing about any of them.
I’ll just note that the Russell 2000 one is particularly horrifying, since it looks like it’s finally starting to break above its trendline.
I put the asterisk in this post title for one simple reason, and it’s this exception:
That’s the index of financial service companies, and it’s the only one that MAYBE, just MAYBE is faltering.
But that’s an awfully thin reed for the bears, almost to the point of not worth mentioning. I’ll say it again: virtually every major index chart is rock solid bullish, and I can only hope my saying so marks some kind of ironic top.
