Archived IMT (2009.05.01)

While the topping process is likely to last into next week, any selloff is unlikely to accelerate until June, which is the likely time when markets that the June FOMC meeting could show less hands-on-stimulus from the Fed. It may be a coincidence that the S&P500 low in 2002 was 777, while the March low is 666, but it is no coincidence that the duration of bear markets never lasted less than 3 years. We're still in year 2.5. Hot-Chart on CAD-S&P updated.