The S&P 500 has returned to near its 2007 peak, but without the deterioration beneath the...

The S&P 500 has returned to near its 2007 peak, but without the deterioration beneath the surface evident then. In fall 2007, mid-caps, small-caps, financials, and transports were all headed lower, the A/D line was negative, the yield curve was flattish, and corporate spreads were on the rise. All of those signals are reversed today. (h/t Ryan Detrick)

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Comments (8)
  • thechaser
    , contributor
    Comments (763) | Send Message
    that's right macro investor, you've got more time to ride this bs bull but hey, us worrywarts still have to play the cards we get; a closeout on 2013 at 1585 is a new alltime (i know, us zh imbued conspiracy theory types fret endlessly about devaluation so it isn't really a new high after all) and everybody's happy especially the pension crowd since the only way they do not face complete disaster on their pollyanna 7.5% per annum projections is for the non economic financial mickey mouse to continue; that's why i'm still 90% long but 80% cash because we gotta get some more melt over the next few weeks to establish that new 2013 high
    24 Feb 2013, 05:32 PM Reply Like
  • ebeuu
    , contributor
    Comments (382) | Send Message
    Selected longs; but much in cash; looking for caves to hang out.
    Not a hero; this market has built its gain despite the political leadership. Protection; is the watchword.
    Good fortune America!
    24 Feb 2013, 05:47 PM Reply Like
  • Ted Bear
    , contributor
    Comments (700) | Send Message
    ...and then there is Karl Denningers 'the world is ending' and "666 will be eclipsed any day now" call....back in 08 and 09.....


    The bulls just love to take from guys like him and give to the already successful.
    24 Feb 2013, 06:06 PM Reply Like
  • Rousseau SC
    , contributor
    Comments (284) | Send Message
    The economy is on far shakier ground today than it was in 2007. The fundamental include a central govt and state govts that cannot support their own weight and a population that is largely underemployed or unemployed and vastly underpaid.
    24 Feb 2013, 07:00 PM Reply Like
  • bgold1955
    , contributor
    Comments (2350) | Send Message
    Agree that employees are on the end of the short stick but to say things are worse than 2007 is, IMO, incorrect as the consumer as a whole and certainly the corps are in much better shape than in 2007. Please provide evidence to your position as to why now is worse. I will continue to prosper from those that are the doom and gloom crowd of the last 4 years. However, things will get worse sometime in the future but now is not the time. Be cautious but be long at this time.
    24 Feb 2013, 10:15 PM Reply Like
  • Rousseau SC
    , contributor
    Comments (284) | Send Message


    Evidence that the economy is in worse shape now than in 2007 If you talk about the economy of the citizens, rather than the publically-traded corporations, how could it be disputed?


    Now is worse because people are suffering and resources to alleviate sufferring have diminished.


    They are suffering. Workers are paid less. More are unemployed. More are underemployed. More are on govt assistance. More have given up hope.


    The govt has fewer resources to assist. Govt is less worthy of credit.
    Many state govts are in horrible shape financially. Uncle Sam is in horrible shape with its massive debt and its incredibly unmanageable unfunded liabilities and an aging population.
    25 Feb 2013, 09:45 AM Reply Like
  • medzjohn
    , contributor
    Comments (491) | Send Message
    In the ageless market wisdom (of the crowd): Don't fight the tape.
    24 Feb 2013, 08:44 PM Reply Like
  • pollyserial
    , contributor
    Comments (1113) | Send Message


    this time around the deterioration isn't in the indexes, it's just in the fundamentals, which, as we all know, are irrelevant.
    24 Feb 2013, 09:56 PM Reply Like
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