Charles Hugh Smith

Is This "The Top"?

Parabolic moves end when the confidence that the parabolic move can’t end becomes the consensus.The consensus seems to be that the stock market is on its way to much higher levels, and soon. The near-term targets for the S&P 500 (SPX, currentl…

The Hour Is Getting Late

After 11 years of “the Fed is the market” expansion, the Fed has now reduced its bloated balance sheet by 6.7%. This is normal, right?So here we are in Year 11 of the longest economic expansion/ stock market bubble in recent history, and by any measure…