I am seeing a danger sign here on this latest pullback, I think we close to bigger pullback correction. July 5th was the last time advance decline and percentage of stock above 200 day moving average confirm the SP500. This recent SPX advance half of the stock listing did not tag along, instead it drifted downward, a sign of bearish divergence. I think it is time to clear out of the market for now.
probably THE most interesting interval coming up in a long while. It has all the markings of 'run'. The Italian bond response was the worst one-dayer in a decade. If we are going to get a summer sell, this is it. I would agree Ray, would not want to be in the way of this one.
Faber is famous for his typically gloomy outlook. That being said, I agree we are headed for a global recession in 2013 - some countries will experience a full blown depression. Will not be conducive to happy financial markets - I'll be in cash before this happens. GLTA