- Above is Consumer Credit back to 1960. Now that's a contraction that's not been seen before! Consumers appear to be retrenching pretty hard. So, I ask myself, what will power profits for companies that must be present to continue the stock market rise other than just the "sugar high" of free money from the Fed?
- Below, lifted from Fujisan over at SlopeofHope.com. It was a good chart and goes along with my current sentiments...so why should I work on a Sunday (LOL)? As stated previously, it appears that we may be in another multiday topping(?) flat and this is Option Expiration Week ending Friday which is usually positive with Wednesday usually being the most up. So, some chop, a little pop and then a drop? Dunno.
- One thing not favoring the bear side is that the market is back above it's 90 week moving average. It is currently at SP 1058 which is only 3.5% below Friday's close of 1093. So that could change quickly with just a small drop. Besides, this market has gotten so stretched to the upside that there is no way I would buy anything without a healthy correction.
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