Index Revulsion: Lookin' Dreadfully Weary

I must say, the big indexes are looking dreadfully weary, particularly when you examine them with their overbought/oversold indicators breaking down. Here’s the Dow Jones Composite.

The small cap-based Russell 2000 (which has been range-bound literally all year long):

And, finally the S&P 500 (which is deliciously close to a trendline break):

Incidentally, I just read a fascinating little article about the nature of money I’d like to recommend you read. You can do so here. It reminds me precisely of the philosopher Alan Watts’ own lecture about money.

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