Yeah, thought balloons have kind of fallen out of favor (as with most things, blame Alan Moore and Frank Miller). Brian Michael Bendis used them for a little while, in Avengers, to indicate a charater's sudden flash of thought or emotion, rather than the inner monologue thought balloons are traditionally used for.
eh, i don't feel that bad about them being gone. i like comics that rely on the art to tell as much of the story as possible - the long pretentious narration in some superhero comics is a big turn-off for me. not that they're inherently bad or always unenjoyable/the wrong choice for a given comic, just not what i would personally do if i were writing/drawing my own comic.
edited 12th Apr '15 4:32:04 PM by wehrmacht
Check out the work of Bob Byrne. He writes comics without a single thought or speech bubble; absolutely everything is done through the art. It's fantastic.
Last thought balloon I saw was in a Durham Red story, the most recent one actually. It was just a normal thought bubble, and I was rather surprised that it didn't just use a caption box.
Ukrainian Red CrossI see thought bubbles more in webcomics and manga than I do comics these days. I think Fables might have a few?
"What a century this week has been." - Seung Min KimSpider-Man of 2099 uses thought balloons in contrast to the narrative boxes used by the other characters in Superior Spider-Man. It's common enough it must be a deliberate choice, possibly because he originated in an era when thought balloons were relatively common.
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I'm defining narrative devices as something that conveys story in a comic book besides the art. Speech bubbles, thought bubbles, first and third person narrative captions, etc.
I love when letterers make a speech bubble unique to a character like what Todd Klein did with Neil Gaiman's Sandman and especially Tom Orzechowski's early Spawn work.
Also, when was the last time you saw a third party narrator or thought bubbles (the fluffy cloud version, not square captions)? For me, I surprisingly found the former in the opening arc of Uncanny Avengers. I saw the latter was used one in an issue of Sonic Universe. It was also used in Multiversity: Ultra Comics but the meta protagonist switched over to narrative captions.