Via Ron Griess of The Chart Store, here is a handy assembly of the past month’s changes, including 3 month, YTD and 1 thru 10 year performances.
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(“Command/Control” and “+” will enlarge further)
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
"Overall household indebtedness is up from $7 trillion to almost $10 trillion since 2000. On this sum, we estimate, the American consumer has an annual interest bill of more than $500 billion; a sum, by the way, that vastly exceeds his current income growth." —Kurt Richebacher
Knowing that the vote over the weekend in Greece was really a referendum on Euro membership, a majority of the Greek Parliament said yes to staying. European Finance Ministers meet again on Wednesday to solidify the 2nd bailout package for Greece at the same time hopefully a deal is consummated between Greece and its creditors this week. The Greek 14.5b euro bond that matures on March 20th is up by 2 pts. The optimism that all will be completed and contained AGAIN to Greece has yields lower in Portugal, Spain and Italy. The iTraxx Financial Index is also narrower by...
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September 6th, 2010 at 10:00 am
Finally, a chart with just the facts and no hint magical relationships. Good job.
Unfortunately, a chart such as this doesn’t reveal the character of the markets at each sample point. For example, was the prior level due to bubbles or bubble bursts or normal rises in a bubble environment or massive QE shenanigans? Was HFT the main driving force or only a peripheral factor?
Magical thinkers will probably draw simple regression lines to plot out the next levels. People who don’t try to create patterns out of hopium fanatasies will just see a lot of red and say “shit, the market’s a craphole.” Wall Street sell siders will portray it like a slot machine that’s due for a big hit and implore everyone to get in now and act like they’re doing a public service.
September 6th, 2010 at 12:52 pm
There’s also crude oil to add to the list. In September of 2000, Brent crude was at $32.
Gold and oil have handily outperformed the SPX over the last 10 years. May be true for at least the next 5.