Chart of the day is....

...from Desjardins (via a reader's mail..thank you A. Reader :-)

Now that's what Roubini's talking about with his "W". Any one with a sense of history cannot possibly be automatically bullish at this moment.

What has been will be again,
what has been done will be done again;
there is nothing new under the sun.
Ecclesiastes 1:9-14

There is nothing new under the sun but
there are lots of old things we don't know.
Ambrose Bierce, The Devil's Dictionary