Zeev,
What's your take on some of the calls for a crash?
1) Father Fred mentioned that the crash began yesterday. If it did, why was the top in July (vs 9/19)?
2) If we are seeing a crash unfold, wouldn't the Jul-Aug swoon be 3 waves down instead of the solid 2 in the daily NASDAQ/S&P charts, and wouldn't the Aug-Sep rebound be only 2 waves up, vs. the pretty solid 3 in the charts?
Even the distribution in the indices from last week has dried up:
IBD New America (emerging companies): C+ (mild accumulation)
NASDAQ: C (average)
S&P 500: B- (mild to moderate accumulation)
NYSE: C+ (mild accumulation)
IBD 85-85 (entrepreneurial): C+ (mild accumulation)
My experience is probably not as high as most here, but I just don't see a crash yet in the charts.
Please point out what I am missing.
(still running with the lemmings)
-David
