• 369 days Will The ECB Continue To Hike Rates?
  • 369 days Forbes: Aramco Remains Largest Company In The Middle East
  • 371 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 770 days Could Crypto Overtake Traditional Investment?
  • 775 days Americans Still Quitting Jobs At Record Pace
  • 777 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 780 days Is The Dollar Too Strong?
  • 781 days Big Tech Disappoints Investors on Earnings Calls
  • 781 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 783 days China Is Quietly Trying To Distance Itself From Russia
  • 783 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 787 days Crypto Investors Won Big In 2021
  • 788 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 788 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 791 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 791 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 794 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 795 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 795 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 797 days Are NFTs About To Take Over Gaming?
Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

  1. Home
  2. Markets
  3. Other

A Body of Evidence?

A Body of Evidence?

As the market sets sail into what historically has been the most treacherous month of the year (September) - a number of my analog and comparative charts continue to flash warning signals as they extend themselves up to resistance (UST:SPX ratio), into historical extremes (Apple) and into possible momentum downturns (2007/2012 SPX Analog).

UST:SPX, SPX Weekly

Apple continues to defy gravity with its parabolic run over the past year. If past is prologue, this parabolic performance chase of the largest market-cap company in the world will mark a major equity market top when the tide turns. It is not a question of if - but when - and the pronounced head and shoulders formation on the MSWORLD index is approaching another turn lower this coming fall.

Mega Caps

Mega Cap Performance

I have been contrasting aspects of the 2007 daily and hourly tapes over the past several years because of the fractal similarities along various timeframes to the current market. This past spring the market began tracing out a broadening top/megaphone formation that was very similar to the structure of the 2007 market - right before it broke down and established the inverted head and shoulders formation - also a pronounced structure of the 2007 tape. This was initially detailedHereand then subsequently in the following notes, Here and Here.

2007 versus 2012 SPX

2007 SPX versus 2012 SPX Hourly

The weekly analog has extended itself further then where I had anticipated it would turn. This may be considered well past an audible - however, it did so in a similar fashion thispast Marchas it worked its way to the pivot lower in April.

Perhaps it is my own bias of perspective, but if it were not for the seasonality, the agreement of various charts - also including the Aussie model that continued to turn down last week - I would be willing to retire the comparison.

I am not.

2007 SPX Daily versus 2012 SPX Weekly

As always - Stay Frosty.

 

Back to homepage

Leave a comment

Leave a comment