"...we know that grandma is back, mistress of the obvious, trotted out on CNBC and calling for a new bull market in a classic case of trend following with the SPX above the magic 1000 level and the VIX in the dumper.
In authoritative tones: 'We do think the new bull market has begun…'
What do we think? Well, you are a diverse and independent minded readership, so I don’t know what you think. But what I think is that the big picture monthly chart of the SPX shows that the bull callers have jumped the gun. Perhaps this has to do with so many of them having missed the bottom as they were too busy being under fire, blamed for the mess that had gone thermo-nuclear on their well established conventional wisdom. Watching the above linked Abby Cohen video, I see a near robot with maybe a few human impulses manifesting in odd facial ticks and verbal nuances, or in the words of subscriber Paul “According to Dr. Wifey, exaggerated and pronounced eyebrow raises means the speaker doesn’t believe what they are saying” . ‘Dr. Wifey’ is Paul’s PhD psychologist wife, who viewed the video. Personally, when I look into those eyes, I see a sort of horrific banality and not much more. I wonder what the herd sees."
Oh, and there is actually a lot of analysis as well, focused mostly on the broad market and precious metals, bull or not bull, and time frames. NFTRH45 out now. Have a good weekend.