SP500 drop to 475 would wring out all the credit

[Roman Candle]

Yep that would wring out all the excess that has been created with debt.

 

[Roman Candle]

SP 500 monthly chart

 

[Eko_Trader]

Compelling argument. Place your bet.

 

[Landis82]

Quote from Roman Candle:

Yep that would wring out all the excess that has been created with debt.

And what does such a fundamental concept as DEBT have to do with Technical Analysis???

Answer: ZERO

 

[Roman Candle]

Quote from Landis82:

And what does such a fundamental concept as DEBT have to do with Technical Analysis???

Answer: ZERO

Debt is not a concept it’s a reality.

 

[BarbaraM]

Elliot Wave projection....3500-4500

 

[trading_time]

Perfect! My thoughts exactly!

Quote from BarbaraM:

Elliot Wave projection....3500-4500

 

[TheBestGuruEver]

Quote from BarbaraM:

Elliot Wave projection....3500-4500

A move like that based on EW makes some sense. Of course the market can do anything, but a move to 9700 or higher would be enough to get bears exhausted, blown out, and have most people thinking the worst is over.

Then then really sell them.

I hope EW is wrong, but it's only because i'm impatient. haha.

 

[short&naked]

Quote from Roman Candle:

Yep that would wring out all the excess that has been created with debt.

Well, I think that you are technically refering to the M3 money supply. It started going crazy in 1995.