How’s everyone feeling these days about the economy?

[CA renter]

Barnaby,

Does this chart look like we are closer to the top or the bottom in the S&P:

1960 – Present Weekly

http://stockcharts.com/charts/historical/spx1960.html

Or the Dow:

http://stockcharts.com/charts/historical/djia1960.html

Now, I’ll admit to being a bear, so my bias is showing… But we look much closer to a top than a bottom to me.

The Dow is very near it’s peak during the “stock market bubble” in 2000.

The last time we saw these levels was in 2006 — the go-go days of “trees growing to the sky”. Does the future look better or worse for the bulls in 2008? Remember how the CNBC cheerleaders were rejoicing when the market broke through 10,000 on the way up? Better or worse now?

I think there is significant downward pressure in all markets, but that’s just deflationary ol’ me. 🙂

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