…with no taper of QE. I was the only person on the planet who even suggested that taper might be possible today.
10% beyond March
…’The Fed didn't acknowledge a suspected weakening in the economic data,’ Luschini [Mark Luschini, chief investment strategist at Janney Montgomery] said. ‘I am assuming the market is interpreting that there could be tapering in December, January or March.’" Story at…
( http://navigatethestockmarket.blogspot.com/2013/10/payrolls-unemployment-lackluster-signs.html ), the markets are now in a similar unsustainable rise and that is why I conclude the S&P 500 is in a bubble. (On my chart, I called it a “parabolic” rise; obviously it’s not, since I drew straight lines, but never mind – the point is the same.) Since a bubble can last for years, the important question is the same as 1999; when will the market breakdown? One clue is sentiment.
Wednesday, the S&P was down 0.5% to 1763 (rounded).
Market Internals are neutral on the market for this short term indicator.