The Biggest Top in History?

Posted by Richard Russell - Dow Theory Letters

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Dow from 1980

Below I have posted the Dow going back to 1980. I keep staring at — and analyzing this chart. And I wonder, is this the biggest market top in history? Just a thought, but I can’t get it out of my mind. With the greatest injection of liquidity in history, that 14000 top seems to be impregnable.

Dow from 1980

When Bernanke sought to halt or reverse the primary bear market with super-liquidity (QE1 and QE2), a few vestiges of the bear refused to be erased. The two vestiges were — chronic unemployment and sick housing. The bear market proved to be like a water mattress. You compress one area, and another area pops up. Richard Russell has made his subscribers fortunes. One of the best values anywhere in the financial world at only a $300 subscription to get his DAILY report for a year. HERE to subscribe. Amongst his achievements Richard was in cash before the 2008/2009 Crash and he has been Bullish Gold since below $300.