And then they tested the top of the channel, and they scooted out. I was writing, if they happen to break the top of the channel then you would be amazed at what the equity market can do on the upside. And, on the day the bond market broke, the Nasdaq went nuts. That's where we are. We are probably anywhere from four days past the top, to two to four weeks from it.
Trends tend to change either at the middle of a quarter, or just into a new one.
So you have to go back and look at when down markets turn up, or up markets turn down, or when things go from up to flat. It's almost always about three weeks into a new quarter, which is about when the earnings reports come out, and on the mutual funds and the investment guide tend to push things, theme-wise, through the whole quarter. There was a chance that we were going to see a mid-November turn, in anticipation of maybe some bad news from the Fed just before Christmas. You seem to have a bit of a negative outlook on the major bond markets. What I am suspecting is that this may not be a normal cycle.