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MARKET PSYCHOLOGY & TECHNICAL ANALYSIS
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Curriculum vitae
OUR REGULAR FEATURES:
"ANIMAL SPIRITS" This confidence indicator was featured in Barron's. See for
yourself where we are in the "confidence cycle."
MOMENTUM indicator has signaled low-risk buy points amazingly well.
VOLATILITY is the key to risk aversion.THE MIND OF THE MARKET
Over 10,000 visits each month.  Read disclaimer.  Support BubbleBucks. Please
subscribe.

Double Bubble: The Implications of the Over-Valuation of the Stock Market and
the Dollar (7/4) - Dean Baker.
Is America�s economy really slowing? (6/11) - Economist.  Yup.


U.S. Public Debt Levels Off in May (5/29) - U.S. Treasury, "debt to the
penny" page.  But will a recession cause debt to re-explode?  (Jump to "the
bubble" to see ratio to GDP.)
What's Left of the New Era? (5/27) - James Stack.  A post-mortem on the new
era...of radio.
Survey of International Banking (5/20) - Economist.  The virtual threat.
Fed Watchers Raise Sights On Increase in Interest Rates (5/12) -
International Herald Tribune.  Fed funds going to 7.5%....

Jump to 'Animal Spirits' Update (this page).  Scroll down for other new
graphs.
The taming of the shrewd: The world�s best-known investors no longer
understand financial markets (5/7) - Economist.  But your neighbor does.
Soft or hard? (4/22) -  Economist.  The landing, that is.


The next president is likely to face a recession early in his term.   Blue
forecast assumes 4.1 percent unemployment.  In 2001-2002 the economy will
face the likelihood--according to reliable indicators--of "self-organized
criticality" or a business slump.  The cause will be a failure of confidence.
See:  "Animal Spirits" in Y2K:  No Recession in View (11/19),   No recession
till after election.  The best signal is when the yield curve inverts from 1
to 10 years, and...springtime brought the inversion!  (Even though the
inversion has gone away, the signal hasn't....)
What New Economy? - David Dreman.  Profits suck in the New Economy.
Current Observations (added 3/30) - stockmarketcycles.com.  Peter Eliades on
zero years and other bearish ruminations.  What, me worry?
Share prices are becoming more volatile. Does it matter? (3/23) - Economist.

Volatility poised for a breakout?
2000-2010: Can America's New Golden Age Be Sustained? (added 2/27) -
stratfor.com.  The bull market ends, and Pat Buchanan is the candidate of
2012.
See THE BUBBLE updated!
.   .   .

The world�s two biggest economies are caught in a spiral of borrowing (1/23)
- Economist.  In America, it's private debt.   In Japan, it's public.  The
difference is that Japan has assets.
U.S. Treasury Reveals Fiscal Year Deficit of $130,077,892,717.81 - U.S.
Treasury.  A surplus?   What are el Presidente and the press talking about?
.   .   .
BULL & BEAR, YIN & YANG: SPX & 200 DAY MOVING AVERAGE!
Sign up for free performance updates!
E-mail address:"The Mind of the Market" in three easy charts:
Cycle through the charts below using the link in the upper right of each page.

1.  Confidence -- monthy.
2.  Momentum occasional -- waiting for self-organized criticality....
3.  Risk Aversion -- monthly..

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Please e-mail me with broken links or missing images. Thanks.


------------------------------------------------------------------------
THE BUBBLE
See Archive for past index pages.

The only other times in the past century when the debt ratio has been this
high have been
around 1929 and 1945.

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 Strange fact of the day: The federal budget was in deficit in 1999!  See for
yourself!  (Source: U.S. Treasury, debt to the penny). Could the politicians
be lying about the true situation?  Of course. The Government is "borrowing"
from Social Security to support current spending but not telling us about
it--unless you look very closely. Bookmark the Treasury page and see for
yourself what's happening with the debt.
 The Wall Street Journal cites my "animal spirits" work in February 20, 1998
front page article on the current "euphoria."
 "Grandfather Economic Reports" -- Michael Hodges' great set of charts on the
U.S. economy. Government data displayed in a way you won't see at a *.gov
site.
Popular Studies--see Research Page for a listing of more:
The Tax Cut America Needs
Self-organized criticality and the non-inflationary debt-shredding reflation
- why there is more volatility in your future.
Decennial Patterns in the Stock Market - partially restored
Macroeconomic Volatility and Risk Aversion - in "the mind of the market"
 "A Human Need" -- my piece in Barron's
 "The Social Security Fix"
 "Reflections on 'Titanic'".
 "Some Perspectives on Complacency."
 "Daily Volatility of the S&P 500, 1970-1997"
 "Note on 'The Big Mo'"
 "The 'Big Mo' in the '8' Year"
 "'Animal Spirits' in 1998"
 "Debt and the Stock Market"
These three are a matched set:
 "The Long-Term Momentum Oscillator"
 "The Killer Wave"
 "Note on Forecasting the Stock Market Using the Long-Term Momentum
Oscillator"

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Produced by Elliott Middleton, Ph.D.
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