Jul

21

In the new millennium there have been 427 60 day highs in the S&P with the expectation 10 days later zero with 60% up and 40% down There have been 157 60 day lows with the expectation 10 days later + 1/2 % with 66% up the results are similar for 120 day highs. We're at an all time high in the S&P. It has been a triumph of the optimists. 

anonymous comments:

Triumph of this summer indeed. May I be assured that similar observation projected bullish odds in 2009, when taken near the 667 low… I think calling the return to 667 is absurd, but the next adjustment to US socio-economic reality could briefly revisit 1000-1100 at any future point. So whose triumph is it? Perhaps no one's.


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