copy&paste
The accelerating trend in SPX is becoming parabolic. It looks climatic and unsustainable (the next two charts from Tom Lee).Unsustainable? No. Mr. Lee compares the current phase to 8 similar instances. It's a small sample, but SPX ended higher after the next 12 months in 6 of these 8. Importantly, none of these parabolic phases marked the top. That said, in the short run, in all except one, SPX either consolidated existing gains or, if it moved higher, gave those gains up (blue circles). In other words, expecting the current torrid pace to continue unabated is low odds, but the gains so far in in 2018 are unlikely to mark a significant top.
cheers |
Angehängte Grafik:
parabolic.jpg (verkleinert auf 30%)

