Trot out any number of feckless CEOs among the hopelessly insolvent as might feel compelled to cross-dress an enamored cheerleader, unaltered is the well-stated case made here revealing no one is buying into fantasy fortunes the likes claim are awaiting the bottom rung of the capital structure. There's just not enough capital in the world to continue supporting wildly overpriced valuations assigned to financial assets of every sort. Indeed, GE today gave the world an ages-old, valuable lesson in how actions speak louder than words. Leave it to a captive, woefully unpenetrating media to sing a much different tune.
Notwithstanding the NYSE McClellan Oscillator's apparent similar relative state contrasted to the period leading into late-August 2012, underlying weakness every McClellan measure likewise presently reveals (this coinciding with the market's advance since June 2012) only but adds to exceptionally suspect states of many other technical measures, leaving one to conclude the market is not about to run away to the upside, as the feckless and undiscerning otherwise would have us believe.
Rather, we're more likely to see a bout of weakness set in here, this possibly lasting some weeks and paving the way for the last hurrah leading up to a train wreck for the record books...
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