Replies to post #171167 on SPDR S&P 500 (SPY)

[Scripo]

This is excellent thanks

One thing i noticed that is different in the older charts the upper wicks pierce the top bb before correction. Our current chart has no upper bb pierce. Although there is a ema crossover wish i could see that spike in price on the upper bolli

[risk on]

BINGO! " 9 ema's crossed thru the 33 period MA" , that is virtually what I've been squawking about for a while by saying " when the T LINE crosses the mid BB on the 20 year monthly, and CLOSES with the cross being booked at months end, critical mass will be reached, and there is no going back .

But, you are also correct, in both previous periods, it didn't go without causing a scene first, but in the end, it was escorted from the restaurant.

[imiloa]

good observations. agreed that the drop will likely come in waves with retrace bounces.
re: timelines, given massive carry trade debt, bank leveraged assets, and weak economy, i wouldn't be surprised to see the first slide of this correction be fairly steep over a few months.

esp if the fed does raise the rate weds
as that will have immediate negative impact on the jan/feb earnings season.
and put a lot of banks in a serious debt pickle.

some banks might implode, 2008 style,
causing a domino affect of leverage assets become suddenly worthless.

in 2007, there was at least a relatively strong labor economy in place before the crash.
in this case, wages are lower,
unemployment is slightly higher,
and consumer debt is higher.

time will tell how the house of cards tumbles...