I gather that many newer subscribers think I am a perma-bear. It's true that I grew up during the Great Depression, and for that reason I do feel "at home" in tough times. But in truth, I am a died-in-the-wool optimist, and I have great hopes for the United States. But above all, I am a realist, and I insist on calling 'em the way I see 'em
For instance the NASDAQ has become a very important exchange, and it lists many of the current high flyers. In fact, the NASDAQ is so important that I now use it as a confirming entity, much the way I use the Transportation Average and to a lesser extent the Utility Average.
Speaking of the NASDAQ, I direct subscribers' attention to the chart below. Here we see a potentially huge head-and-shoulders formation in the NASDAQ. Should this formation be completed, it would undoubtedly exert a very ... Log in or subscribe to continue reading.
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