ILLUSTRATIONS AS TO WHY THE MARKET NEEDS TO STOP PARTYING OR IT WILL END UP IN REHAB
It's party time if you're a bull. The drinks are flowing, the girls are dancing, and the bulls are eating it all up. But, as the wise amongst us know, the party lifestyle is fast moving and runs over you before you're able to run over it.
The bull market that we are experiencing here has some short to intermediate business it needs to attend to or it may find itself dancing alone, in a vacant apartment, with only memories of its previous glory.
Long-term is very bullish. However, every bull market needs to take breaks and shake the tree a little bit before it has the right mojo to begin another leg up. As bullish as I have been, we are now entering a period of time where that shaking may begin. And here are some illustrations as to why:
Click on the charts to enlarge
Total Put/Call Ratio
Equity put/call ratio
Semiconductor Index SOX
Gold - GLD
CRB Index (Commodities)
