Stock market may have topped out yesterday as stagflation take hold of the economy
Sam Adelton
Sep. 29, 2006

The Dow ended the day with a 40 points drop after trying to make a new high all day.

The rally failed with classic signs of coming bear market. The sentiment among advisors are bullish and that is bearish sign for the market.

The long bonds may have topped out too. The best signal if stagflation now controls the market will come a correlation of moves by dollar adjusted gold and stock market.

The Nasdaq is more than 50% below all time high while Dow is flirting with the same. The divergence is wide and that is bearish too.

I personally belive there is one more leg left which will be fabulous bull run on the upside and that will make solid new high in Dow while making bears run for cover.

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