The Lemon Fool

http://stockcharts.com/freecharts/pnf.p ... 0!!2!20%5D

WoW! Still looking bullish. Note the H & S top that failed big time! It is sometimes said that a failed H & S is a warning of weakness ahead.

The S & P and the Dow are running free above previous highs unlike FTSE which is up against the big resistance of the tops in 2000 and 2007.

OC

The DJIA is now flirting with the 20,000 point level on a CAPE of 27. If the CAPE reverted to it's long term average of 16 the DJIA would fall to around 12000 points.

Just a thought!

Very true, the Market can stay irrational longer than I can stay solvent!