Are you reading Robert Sinn right now? Don’t be a schmuck, he’s been all over this tape and senses an inflection point.
I don’t point you guys to traders randomly. I put you in the hands of Joe Fahmy in the middle of the 1st quarter, he was going to cash a day or two before the S&P began a 6.4% drop.
I think the right guy to be paying attention to at this moment is the Stock Sage:
The tremendous dollar sell-off, the parabolic surge in commodities, and a US equity market that continues to hit its head up against S&P 1338 all have me pondering the possibility that an inflection point is near. The Fed may have done all that it can in terms of monetary policy stimulus and may have to pull back a bit once QE2 ends in June. There cannot be a more clear warning to the Fed that it may be at risk of going too far than the surge in commodity prices and the tumbling dollar.
This is key, it reminds me a bit of Marc Faber’s April commentary (Dollar rally imminent, use the commodity correction to buy gold lower). Click over for more of what Robert has to say now about stocks, the dollar and oil.