Quoted from LITZ:All that matters is the credit cycle which is based on if banks are lending money like there is no tomorrow or making it near impossible for most to qualify for loans. Normally we see a blow off top where the dollar weakens and commodities scream higher. Once the equity market tops and rolls over you will see ppl going to cash, bonds (if interest rates drop) and utilities. Looks like we still have some more room to the upside in the stock market as precious metals and commodities have yet to move off their 40 year lows vs the SP 500.
Nice charts.
Robert