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Re the chart of bank buying. The 1920’s charts are making the rounds again. The correlation to the top in ’29 is being eyed by many. I will say that in 2016 the market looked topy and the same correlation was pointed at by many and not just doomsdayers but ‘pros’ on Wall Street. Well, 2018’s, toppiness looks similar to both 2016 and the 1920’s. There is a difference, no QE and no ZIRP this time like there was in ’16. But, the economy is perceived to be going well so it might not be the end of the current run higher. It’s always tricky during long flat periods in the market. Which way will it break, higher or lower?