To get started, this is a flow chart I made about the mess we are in and how we arrived here. The next flow chart (coming soon) will be my projection.
Pictures are worth a thousand words. Check out the Dow Industrials and the chart notes below. Trading volatility is a-comin one way or another. Chart is courtesy of Stockcharts.
And here is an even longer view of the market: Monthly Historical Chart
Sorry for the crude formatting, but apparently Blogger and Word don't convert well. I'll figure out computers some day!
so in other words we're screwed? I seen the humongous SNP 500 head and shoulders chart pattern with the target of 450 on another web site. It's possible that we get there but i think highly unlikely. It would take a full blown financial Lehman like financial crisis in Europe which sets the dominoes falling one by one until the whole financial system is blown up to get there i'd imagine. We would probably fall through 450 if that happened.
ReplyDeleteI'm like you, I don't see anyway out of it. This massive debt bubble is going to have to implode for anything to get fixed. Crazy, we have to blow up the system for it to get fixed.
yeah that monthly chart is scary though. Looks like we could be in for a LOT more downside. Yikes!
ReplyDeleteYep Max, I agree. The absolute worst-case scenario points to an epic destruction of the market. But thankfully the worst scenario is often not too likely. But I do think we're in for a big sell-off.
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