02 April 2013

SP 500 and NDX Futures Daily Charts - New Highs and Complacency Returns.

The SP 500 tagged my intermediate chart objective of 1565 to 1570 intraday today.

Stocks are in a Fed-induced bubble now.

They are not expensive based on a multiple of earnings. However, the earnings are not sustainable.

The most illustrative chart is to compare the growth of corporate profits and the median wage.

The world is slipping into a recession, approaching depression in some errors, all due to a policy error on the part of the group think of the global elite and their hangers-on.

There will be a serious break at some point, perhaps as early as this summer.

Non-Farm Payrolls this Friday, ADP and ISM services tomorrow.