Four Elections And A Market Myth Funeral | ZeroHedge - Since 11/7/2000, the first election of Bush, the S 500 is down 0.25%. The USD has lost a remarkable 30% of its purchasing power relative to the world's major currencies (36% Trade-weighted). But it gets better because energy costs (WTI) have risen 65% since then. The Long Bond has gained a remarkable 50% while the clear winners in a Greenspan/Bernanke era has been precious metals - up around 550% since November 2000.
The green shaded area shows the middle of the ‘W’ that should hold as support as the ratio bull flags with a downward biased consolidation. Yet this is really not a great looking picture as the moving averages have turned down more noticeably than at any point in the bull market out of 2000 thus far. Is that a negative? Could well be, if we are going to go by unbiased TA signals. My work on the macro economic fundamentals – updated most weeks in NFTRH, hint hint