Open Forum (9/22- )

Posted by Dave Fratello on Tuesday, September 22nd, 2009 at 10:48pm.

The Dow is near 10,000 again and the S&P is over 1,000.

As this snappy chart shows, market values have been down, and now they're nearly back. (Note: the y-axis starts at 6,450 to show an exaggerated view of the drop and recovery over the past year.)

People are feeling better, and there's this (via Bloomberg) possibly great news:
A Japanese charting technique flagged the first buy signal for the U.S. equity market in six years last week, a sign that the steepest rally since the 1930s may last, Dolmen Stockbrokers said.

The Standard & Poor’s 500 Index rose above the top of the so-called Ichimoku Cloud, according to the weekly Ichimoku chart, which analyzes historical highs and lows. The last time this occurred, the benchmark surged 62 percent from June 2003 to a peak of 1,565.15 in October 2007.

Wow, could we be on the verge of another 62% jump?

No one's really saying that, but to some, this doesn't feel like the end of a rally, but perhaps the beginning.

Is there a bubble somewhere we should all know about?

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