Starting with my June 2, 2010 post I wrote of my expectation for a near-term stock market advance despite what I viewed as highly problematical future conditions. I continue to maintain this view, albeit with the dangers discussed in subsequent posts, including that of October 13, 2010 “Comments On The Next Crash.”
Although I continue to believe the stock market will go higher, there are many technical and fundamental signs that are disconcerting. I will be discussing these in detail in the near future.
Another issue of great importance is whether the stock market, as a whole, is currently a bubble. I believe that it is. This is admittedly a very unique opinion. I will discuss my reasoning in a future post. This “bubble” condition will have immense future ramifications.
For reference purposes, below is a daily chart of the S&P500, from March 2, 2009, near the March 6, 2009 low of 666.79:
(click on chart to enlarge image)(chart courtesy of StockCharts.com)
A Special Note concerning our economic situation is found here
SPX at 1321.87 as this post is written