Joined Apr 1, 2010
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what do you make of the fact that both AAPL and FCX were hitting new 52 week highs in October of 2007 as well?
Ok..so you’re saying we are at a major bull market top?
no simply pointing out that neither of those tells gave an early warning that the bull market was topping in October 2007, so isn’t it possible that they would not give an early warning this time?
It was a different scenario, in my view. However, you are correct that Freeport was not nearly as good of a tell until mid-2008. Since that time, though, it has been an excellent tell.
Nice recap Chess, thanks.
Nice recap again Chessnwine, like FCX as a general indicator paired with the dollar.
Ten year now at 2.90% with the two year at 0.37%, thus, 290-37=253, now under the critical 255 level Keystone uses to judge bullish banks versus bearish banks. Thus, further weakness in financials is expected which in turn will add to weakenss in the broad markets. Markets are changing quickly on news bites so the 2-10 spread requires close watching thru the JPM and C earnings later this week. If the spread can regain 255 and move higher then the market bulls are winning back control, otherwise, they are not.